Corporate Business Solutions
Providing temporary staffing support for: transaction analysis, transaction processing, data analysis and summarization, technical assistance in devising new or revised accounting policies and procedures, classifying accounting transactions, special studies to improve accounting operations, and other accounting support needs.
Audit Approach- Efficient and Cost-Effective Richardson & Associates extensive experience in corporate and nonprofit auditing assures you of a systematic audit, tailored to your unique requirements.
New trends also show that firms are seeking to develop government projects. However, government projects require a completely new set of rules and accounting requirements. Let us help navigate you through these new requirements like audited overhead rate in accordance with the Federal Acquisition Regulation (FAR), allowable cost, and proper financial recording.
Internal Audit Help
Internal auditing represents one of our cores of competencies at Richardson & Associates. When conducting an internal audit, we offer a comprehensive review of the requested organizational policies and procedures and test compliance with internal and external requirements; share best practice recommendations, cost saving tips, risk mitigation tips, and suggest additional revenue streams you may not be taking advantage of within your industry. In essence, we are “Accounting for your Success!”
We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures, then we make recommendations that help your company become stronger.
Forensic accounting – also called financial forensics or forensic auditing – is an area of accounting that investigates actual or anticipated disputes.
Small Business Services
As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.
Audits – Reviews – Compilations
Your stockholders, creditors, or private investors have different levels of risk tolerance, so we provide three levels of assurance to meet your needs.
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not.
We can help you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you.
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.
Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent…
Balance Sheet with specific categories like cash, accounts receivable, accounts payable…
Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
- Revenue Support Schedules that detail the organization’s sources of income in specific categories like charitable donations, membership fees, investment income.
The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it’s imperative that you build your accounting system around these revenue and expense classifications.
Here’s what we do for you…
Review and compile your financial statements
Design, install, and maintain your Accounting System
Weekly, bi-weekly, or monthly payroll preparation
Payroll Tax Preparation and Deposits
Provide training for your accounting personnel
Complete and file your non-profit status application
Provide training for your board on non-profit financial statement usage and effective budgeting practices
Prepare and file the 990 and 990T tax forms
Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
- Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.
If you’re starting a new not-for-profit organization we can help you prepare your organization’s 501 (c)(3) application for tax-exempt status.
Here’s what’s needed…
Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 (“Organizational Test”).
Employer Identification Number
By-laws of the Organization
Minutes of Board Meetings
Names, Addresses, and Resumes of Board Members
Names and addresses of all Active Members
Inventory of Assets like cash, furniture, equipment, property, pledges…
Inventory of Liabilities like mortgages, accounts payable, loans…
Rent/Lease Agreements and Contracts
Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years.
Written Reason for Formation and History of the organization.
Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets…
Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers…
Fund Raising Program Descriptions
- IRS Processing/Filing Fee
We are happy to prepare any of these items if you need help.
Richardson and Associates is a Certified Public Accounting (CPA) firm that specializes in varies governmental accounting and auditing solutions.
In 2015, we became General Services Administration (GSA) holder. We know the financial, operational and public accountability challenges unique to the federal government. So our solutions are from the federal government prospective. By using our brilliant and highly qualified team of CPA’s and Consultants, you now have solutions to those challenges why still remaining compliant, efficient and cost effective! – Now that is a policy the public would agree with! Things move fast in the business world. We move faster.
In the meantime, we are the Independent Public Accountants (IPA) that work together with the Ohio Auditor of States on multiple financial statement auditing services.
Richardson and Associates also have previous work experience with other services include but not limited to agreed-upon procedures, medicate cost reviews etc.
According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax-saving strategies to maximize your after-tax income.
We’re here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discrete
Tax Season Promotion
Smart Partnerships = Strong Capacity + Resources
We are also very creative in our approach to capacity building. We have started an unprecedented strategic alliance with iconic CPA firms. Partnerships bring us stronger capabilities and transit experience. We believe that a partnership like this is a win-win situation for both firms.
Choosing an accounting firm to handle your accounting services is one of the most important choices you can make. We at Richardson & Associates accounting firm specializes in industry-specific accounting rules for our clients. We are aware of accounting procedures, regulations, policies, and procedures that are specific to our clients.
In this current environment of economic downturns, new trends are emerging in the world of construction for architectural and engineering firms.
New trends also show that firms are seeking to develop government projects. However, government projects require a completely new set of rules and accounting requirements. Let us help navigate you through these new requirements like audited overhead rate in accordance with the Federal Acquisition Regulation (“FAR”), allowable cost, and proper financial recording.
Richardson & Associates understands the accounting nuances of the constructions industry. We are very adept at working with the percentage-of-completion method requiring the accountant to measure and make judgments concerning the reasonableness of estimates provided by the subcontractors. Our background in construction goes back over twenty years.
- We perform consulting services and developed a unique Integrated Project Delivery (IPD) model for a team of construction companies to help determine the best method for calculating the overhead and profit rates.
Government & Municipalities
Government recognizes that the current status quo is no longer an acceptable way to do business. The community expects a lean, efficient, cost effective, green, industrialized ran government. They expect cost conscious decisions to be made regarding procurement and operations. But, government tends to operate few steps behind business practices followed by non-government entities. In today’s economy, government agencies are challenged to work within budget cuts. The good news is that Richardson & Associates is able to help you meet those challenges. Richardson & Associates provides assistance with:
- Cost reduction –Reducing expenses is only the beginning. What should be examined is
- Payments – oversights, processes
- Acquisition and procurement
- Human resources
Energy & Innovation
Richardson & Associates is a business consultant for some international petroleum and oil companies.
As the independent accountant, Richardson & Associates team is currently performing several agreed-upon procedures that have/will help Marathon meet its innovative alternative energy solutions.
- Richardson & Associates is helping clients address industry challenges by providing innovative consulting solutions to further its strategic objectives.
- Write energy-related grants.
Great News: The United States Department of The Treasury just awarded over $1.3 million to our client a large petroleum company for the completion of the Solar Panel Project. We are proud to be a part of this federally recognized Specified Energy Property. Our due professional care and competency was a major component of this success. Congratulations to our 1603 project team!
Universities face an overwhelming number of regulations, we can help.
Richardson & Associates and The University of Cincinnati(UC) co-staffed for UC’s internal audit function. Our well-trained staff teamed up with UC internal auditors to test various audit sections.
In today’s competitive market, all health care providers strive to reduce the cost and improve efficiencies to provide a better patient outcome. Richardson & Associates fully understands the challenges facing health care providers as well as potential strategies to help ensure their success in the future. Our team has great experience auditing local hospitals. We have all the expertise and skills needed for health care claims audits, compliance audits, and operational audits etc.