Accounting Services

Elias CPA Group gives you in-depth insight into your business. With a thorough understanding of your financial statements, you can quickly identify the areas of your business that most require attention, and provide the most opportunity for growth. Our interviewing process identifies the specific financial information you need in order to manage your business effectively. We can then tailor your accounting system to include this information in your financial statement package.

Finally, we will meet with you periodically to discuss your financial statements and what they mean to your business. Typical areas of discussion include:

  • What trends do your financial statements show?
  • What is your break-even point?
  • Is there a need for additional operating capital or perhaps a line-of-credit?
  • How will your company finance projected expansion and growth plans?
  • What tax planning opportunities are available?

“Whatever the question, we work with you to help find solutions.”

Accounting Software Selection and Implementation

Businesses have a wide variety of accounting software packages to choose from. As accounting professionals, we are familiar with a number of accounting programs including QuickBooks, PeachTree, Great Plains, Solomon, Real World, DAC Easy, MAS-90, and others. Depending on the size and nature of your business, some software packages are more suitable than others. Our experienced staff is ready to help choose the software that best fits your needs.

Audits, Reviews, and Compilations

Whether your business needs compiled financial statements, or more in-depth reviewed or audited statements, Elias CPA Group  is ready and able to serve your needs. Most small businesses need compiled statements for internal use and for their banks. However, we also provide more intensive services such as reviews, which may be required by regulatory authority, or by loan covenants. We perform reviews for manufacturing companies, automobile dealerships, distribution companies, and a wide variety of other businesses.

Business Entity Selection

Choosing the type of entity for your business (sole proprietorship, partnership, corporation, or limited liability company) is a crucial decision that can have long-term economic and tax implications, positive or negative. For example, limited liability companies, taxed as partnerships, work well for real estate holding companies. For manufacturing companies, corporations or limited liability companies (taxed as corporations) are often chosen. Finally, the decision as to whether a corporation should make an “S-election” varies from business to business. With our experience with hundreds of small businesses, we can help you determine the most advantageous type of entity for your business.

Business Succession Planning

One of the most challenging aspects of business ownership is developing an exit strategy. Whether this takes the form of a sale to family members, trusted employees, outsiders, or a combination of the above, we can help.

A well-crafted business succession plan is ideally developed months, if not years before it is implemented. This gives the business owner ample time to get comfortable with the plan, and to adjust the plan as circumstances or perceptions change. We have worked with a number of businesses over the years to develop “win-win” business succession plans.

Business Valuations

If you are thinking of buying a new business or selling an existing business the valuation of that business is vitally important. Business valuations are also frequently reconstituted by events such as divorce, a death in the family, or other unanticipated circumstances. Elias CPA Group provides useful and objective analysis to assist you in the valuation of your business.

Buying and Selling a Business

There are a number of factors that can dramatically affect the viability of the purchase or sale of a business. Of particular concern are the value assigned to the business, the structure of the transaction, cash flow, and of course, tax considerations. From assigning a value (See Business Valuations) to strategizing the plan, Elias CPA Group can help.

Cash Flow and Budgeting Analysis

A business can be profitable and still have cash flow problems, frequently caused by rapid growth. We can evaluate and forecast your company’s financial condition and the related financing requirements. We have developed comprehensive in-depth projection models to forecast profits, cash flows, loan amortization, and future balance sheets. (See Also “Financial Forecast and Projections.”)