The Case of Sloppy Books
A research consulting services firm was using the services of an accounting office that did not have licensed public accountants. Not only were the accounting records a mess but the tax returns were being filed late. The financial statements had not been completed for two fiscal years and the company had no real information to look at to evaluate performance and understand their tax position. Moreover, the money the company was spending for this “service” seemed like a waste.
Scarrow Yurman & Co demonstrated the value of engaging a firm of licensed public accountants who are qualified to perform both the financial statement compilation services and the necessary tax compliance services. Scarrow Yurman & Co finished up two fiscal years of financial statements and tax returns and prepared all the necessary adjusting journal entries required to sort out the client’s accounts.
Now our client has a clean set of books, understands the basics about their financial performance, and has up to date tax filings and financial statements that can be used internally and for tax purposes.
Our client knows that they can call us any time during the year for advice on tax and accounting matters, since we have an understanding of their business and tax status.