Dean T. Carson II, C.P.A. |
Full Range CPA & Consulting Services in NY, CT, MA & TX, Select Services in other States by Inquiry / Fluent in Spanish
ph: 917-300-5190
alt: 917-231-7855
dean
This page is under construction but the outline provides framework of discussion points we can follow up on where you may be in need of services on Financials:
At the core of what we do we have experience in CFO, Controlling and Senior Management Consulting for C-Level Executives over many years. With a proud record on the corporate side of 8/8 rounds of delivered financials materially or completely owned meeting "Clean" opinions with immaterial adjustments at GAAP Audits. Important hands on experience on the Corporate side that benefits related needs on Financials.
We can help you on GAAP and IFRS driven needs on Financials through Project work or more extensive services as required. We can also help on Audits, Reviews and Compilations as applicable.
Contact us or e-mail info@dcarsoncpa.com .
Financial Statements are the last step in a chain of important decision making that builds the foundation of Financial Decision Making. The Foundation is built upon personnel, software, experience, training, communications and Strategic and Operational decision making that needs to align with the Rules of Accounting, Tax Laws and Rules, Compliance and various other Financial, Management and Informational needs of Decision Makers for the broad Audience of Internal and External Financial Decision Makers and Stakeholders.
The process starts with the key knowledge that the output will only ever be as good as the input and the quality of inputs at each step of the chain through Payables Vouchers, Client Invoices, Journal Entries and the details that are captured on the front end for the quality of Financial Analysis on the other end. This is a point that time and again finds issues in chains of accounting data, where you can gain competitive value through informational insight with the proper planning, training and alignment of staff to the end goals of Financial Reporting. At the core Financial Statements are about delivering investor and management insight through Financial Data.
For Regulated Entities you have four needs of Data that cover Financial Reporting, Management Analysis, Tax Compliance and Regulatory Compliance depending on your business line. It's a wide range of awareness that can help on Financial Decision Making support services. In Non-Regulated lines you will tend to have three lines of Financial Data needs for Financial Reporting, Management Analysis and Tax needs. The Ad hoc analyses you can produce from Accounting deal with Sales support, Operations, Efficiency, Cost Management and much more. The quality of Data you capture expands your insight to Entity Operations. You also have the need for Strong Controls, Checks and Balances to protect Entity Assets, support transparency and ultimately improve the quality of Financial Data with Compliance.
With time we will add more of the details here but know that part of the process is making sure that there is a strong level of communications between Strategy and Operations and the staff personnel who are supporting thes objectives at the earliest points in the chain, from Sales and Client onboarding to Business Managers who are actively contracting and the Accounting staff in Payables, Reseciveables, Payroll and Staff Roles who are the first line of data analysis, controls and reporting.
Through everday operations we see many opportunities for Entity Improvement through Accounting and Related lines, like the Vendor Portals and onboarding which could be effectively recast as a system with Economic Efficiency to acquire efficiently priced resources for wide ranging Entity needs on Business Consulting.
The goal on Accounting and Financial Reporting should be to utilize the analytical abilties of Staff to support Strategic and Operational objectives through process improvement and careful consideration of Data Pipeline needs, If you take the time to ask the question you are going to find that Client, Employee and Vendor onboarding for Accounting are always points where informational efficiency and streamlining can be added to help the overall information and Decision Making chain..it's just one of many observations.
The point is you need timely, efficient and relevant financial data and there are many steps on that road that can help including the attributes of accounting data in connection to Strategic and Operational Objectives, Control Procedure successful implementation of Accruals, and alignment of data for streamlined reporting. The experience we have on Financials in hands on roles is a benefit to ALL points on the chain from Entry through personnel, procedures, controls, softwares, project management and Business Analysis, Management of Client, Payroll and Vendor Cycles and the core General Ledger, Accounts, Trial Balances, Sub-Ledgers, Analysis and other methods. The insight from owning accounting, taxes, compliance, periodic and ad hoc reporting over the years is a solid foundation of deep insight through financials. That insight is the key to connec the practical and the ideal, the operations and the strategy. Quality Financials are built through carefull insight and we have that cautious insight through Financials and the chain of Accounting from front end entry through input, softwares and through outputs and subsequent advanced Financial Analysis needs.
The detail skills connect to the broad skills on the CFO level to connenct GAAP. IFRS, OCBOA, Tax and Other Basis Compliance with knowledge, skills, experience, teamwork and research. We complete the picture of Accounting, Taxes, Compliance, Analysis for Operations and Strategy with the bottom up and top down level views through Financials.
Contact Us or e-mail info@dcarsoncpa.com and read on to follow more of the knowledge we share here and around the website on Financials, Accounting, Taxes, Compliance, Analysis and related factors of Full Chain Financial Decision Making support for ALL levels through services from Inputs through Software, Project Management, Business Analysis, Accounting, Taxation, Financials, Economic, Statistics, Research and Analysis. We enjoy most every level of Financial Decision Making support and it makes for many diverse opportunities to support Decision Making.
We can support your needs on the Balance Sheet where you can find your Assets = Liabilities + Owners Equity as the Fundamental Constant of Accounting. If you business is runining in a loss capacity you may have a Deficit instead of Equity. If your Entitiy is not a Business but is a Non Profit, A Fund or Governmental Entity you may have some different values like Fund Balances or Net Asset Values or Fund Values but the general principals will be similar.
On the Balance Sheet it's about what you own and what you owe, the classifications for terms of Assets, Liabilities and Equity. You'll find that a Balance Sheet is a useful tool to help analyze your Busines if your not already there. To look at the snapshot of your Business at a point in time. A Balance Sheet is like a map to your Financials it's where you find the things you hold at a fixed date in time.
We can explain the Balance Sheet to you on services so you can better understand this important management tool.
The types of things you'll find on your Balance Sheet include Cash, Prepaids, Receivables, Fixed Assets, Intangibles, Loans, Accounts Payable, Accruals, Taxes, Debt Securities, Equity Securities and more.
In the world of US GAAP we correspond to FASB ASC Presentation Standards Topic 210 - the Balance Sheet, as your US GAAP Guide to the Balance Sheet under Rules Based Accounting. Or if your world is IFRS we will correspond to the principles based approach to your Balance Sheet as best meets your needs on services.
Under Regulatory Accounting Methods or OCBOA (Other Comprehensive Basis of Accounting) we will conform to Regulatory Accounting Guidelines at the source.
Contact Us or e-mail info@dcarsoncpa.com
The Income Statement is the periodic Financial Statement where your Revenues and Expenses meet and whether on a GAAP, IFRS, OCBOA (Tax, Cash or Modified Accrual) basis you'll find there the useful information on Income and Expenses. Your Income Statement is a primary Financial Management tool along with your Balance Sheet, Statement of Cash Flows and potentially other Financials.
Contact Us or e-mail info@dcarsoncpa.com
More to update soon...
Under the Direct or Indirect Method for Financials, as a related note of interest we can help you on Forecasting Cash Flows, Managing Cash Flows and other needs corresponding to Finance and Liquidity.
Your Statement of Cash Flows is the connection between your Balance Sheet, your Income Statement and the intraperiod sources and uses of Cash Flows, which look through Accounting Results to speak to elements of Liquidity, covering key important elements of Entity Operations for Analysis and Finance Decision Making.
Contact Us or e-mail info@dcarsoncpa.com
Explaining the Intraperiod changes in the Balances of Equity Accounts on your Balance Sheet, the Statement of Retained Earning is a Focused Look at the Change in Capital Accounts corresponding to Owners of Shareholders Equity as relevant to the Entity Structure.
As you build and maintain Entity Financials you begin to utilize the tools of Management Decision Making on Financials for Insight and understanding with Operational and Strategic Relevance to Business. The next level on Operations for Management needs is that Entity Financials open the door to broad opportunities on forward looking Planning, Budgeting and Forecasting through Financials. We can assist on ALL of those needs.
Contact Us or e-mail info@dcarsoncpa.com
Accounting is the steps that lead to Financials and the Strategic and Operational practices, the foundation that is both elemental and strategic on Financials for growth. Analysis is a broad range of practice and procedures that may be applied to Financials and Accounting to produce insight for Financial Decision Makers. We can assist on corresponding services.
Contact Us or e-mail info@dcarsoncpa.com
Forensic Accounting, Due Diligence and Project work are ALL areas where we can help, more to follow soon or we will update links to the various places on Our Website where these workflows have already been introduced for reference. Stay tuned for more updates soon or contact us or e-mail info@dcarsoncpa.com
More on these lines introduced on the Audit and Legal Support lines on pages.
Follow our link here to learn more on Audits, Reviews and Compilations as various specialized levels of CPA services on Financials.
These are important points of awareness that we share on Our website. Depending on needs and specifics we can cover varying levels of Audits, Reviews and Compilations as determine on a case per case basis of facts.
In general our knowledge lines exist for three levels of purpose - 1. For Services or elements of project services. 2. for Economic and Policy Research for Entity needs and 3. for Broad Societal Outreach with knowledge that can help on the Economy.
Financials have an important place in the Economy on decision making where we can help with many years of skills and an open line of knowledge, experience, teamwork and research as a smart approach for the on demand needs on Financials across sectors where we can adapt and grow to meet the challenges and opportunities with skills and teamwork.
Contact Us or e-mail info@dcarsoncpa.com
This section, In update but still a useful start...
Research on Financial Decision Making that we undertake on a continual basis is a relevant cornerstone of the work in support of the diversified needs of Financial Decision Makers to follow the updates in GAAP, IFRS, Tax Rules, Compliance reporting and more on the Financials side for Operations and on the Strategic side for these needs and the opportunity to support Buisness Decision Makers in diverse ways with an eye on supporting Growth, Efficiency, Financial Analysis and Strategic approaches to Financials through Business, Industry, Non Profit and Government Financials and the many points where Financials connect on opportunities for efficiency, insight and growth.
The added pathways of Investment Analyst taining, Quantitative Insights, Financial Modeling, Research, Project Management, Business Analysis, Softwares, Databases, Regulatory and Legal Research skills along with Government and Industry insight skills can ALL assist in support of Strategic and Operational needs through Entity Financials.
The knowledge pages around are website are ALL generally pathways to meet us on Services where we may assist. The informational updates are pathways to knowledge growth and for the broad point that we support financial decision makers through needs on services they may be useful to find common grounds of interests or insight.
ALL client relationships are individually considered and Our Ideal Clients are Clients who embrce the importance of meeting the Standards on Financials, Regulatory and Tax compliance for Operations. On Strategic Consulting the work is about problem solving with connection to the Standards and Rules and potentially on areas that may not be directly focused on Accounting, but may have some knowledge, educationall, training, learning or growth relevance.
Contact Us or e-mail info@dcarsoncpa.com
More to follow soon ...
Accounting and Financial Reporting is about delivering insight for Financial Decision Making.
The core tools are the work product of Financial Statements:
Balance Sheet
Income Statement
Statement of Cash Flows
Statement of Retained Earnings
With related Analysis and workflows for Accounting, Operations,Taxes, Compliance, Advisory, Strategic Planning and more. From End to End on the Economy Decision Making runs on Financials
which capture the Business, Strategy and Operations of Entities and Individuals
Basis of Accounting:
US GAAP (Rules Based)
IFRS (Principle Based)
OCBOA (other Comprehensive Basis of Accounting):
Methods:
Accrual
Modified Accrual
Cash
Some Elements of Accounting & Financials:
Accruals
Revenues
Expenses
Assets
Liabilities
Equity
Accounts
Ledgers
Sub-Ledgers
Journals
Trial Balances
Reconciliations
Reclassisifcations
Adjustments
Analyses
Closes
Month's End
Quarter's End
Year End
For Relative needs contact us or e-mail info@dcarsoncpa.com
Illustrations:
Simple Balance Sheet for visual reference only / NON-GAAP and NOT for Reliance:
A Balance Sheet is a Financial Statement which can help you understand the Rights and Obligations of a Business Entity, Capital Structure, Financing Decisions including the mix of Equity and Debt Capital and more. For Management, Regulators and Investors, Balance Sheets provide Insight for Financial Decision Making.
DCarsonCPA on Core Financials on Linkedin
Contact Us or e-mail info@dcarsoncpa.com
Copyright © 2010 - 2022 Dean T. Carson II, C.P.A.. All rights reserved.
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Full Range CPA & Consulting Services in NY, CT, MA & TX, Select Services in other States by Inquiry / Fluent in Spanish
ph: 917-300-5190
alt: 917-231-7855
dean