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Macomb County Certified Public Accountants

 
Certified Public Accountants in Macomb County, Michigan

Carabell-Leslie Blog

  • Customer Refunds: Are You Doing Them Right?
    Refunds. You probably wince at the word. Some – like customer refunds for returns – are fairly uncomplicated, thanks to QuickBooks‘ tools. Others, not so much. You may find yourself unable to balance your accounts receivable. There are numerous scenarios that necessitate the use of credit memos, including overpayment, order cancellations and bad debt write-off. [...]
  • The Importance of Updating Beneficiary Designations
    Most of us have more than enough to do.  We’re on the go from early in the morning until well into the evening-six or seven days a week.  Thus, it’s no surprise that we may let some important things slide.  We know we need to get to them, but it seems like they can just [...]
  • Qualified Charitable Distributions
    IRA owners and beneficiaries who have reached age 70 ½ are permitted to make cash donations to IRS-approved public charities directly out of their IRAs.  These so-called qualified charitable distributions, or QCDs, are federal-income-tax-free to you, but you get no itemized charitable write-off on your tax return. But, that’s okay because the tax-free treatment of [...]

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Financial statements provide valuable information in the measurement of past performance as well as a planning tool for decision making.  The information contained in the statements is beneficial to owners, managers and other interested third parties.  We recognize the importance of these reports and assist management in proper financial statement presentation.  We offer numerous types of accounting services, including audited, reviewed and compiled financial statement reporting forecasts and projections, evaluation of internal control strengths and weaknesses, and agreed upon procedures reports based on client needs.

 

Financial statement preparation for corporations, partnerships, qualified plans, etc.

Audits - Very detailed, confirming cash receivables, payables, observing inventory, testing of internal controls, etc.

Review - Full financial statements and disclosures. Detailed analysis of balance sheet accounts and preparation of analytical procedures to evaluate account balances.

Compilation - Basic financial statement with or without footnotes; limited analytical procedures.