Tag Archives: generally accepted accounting principals

We Are Expanding

J Mark Olson CPA Inc is pleased to announce that we have formed an alliance with Lyndon Group (www.Lyndon-Group.com) to better serve our clients.  Together we form a boutique management consulting firm with finance & accounting professionals serving companies in your industry throughout Southern California and beyond.

Our practice leaders are Big 4 CPAs or MBA graduates of the nation’s leading business schools. Our professionals have provided services for small to medium sized businesses and to the Fortune 1000 companies.  Their hands-on expertise, backed by our support system, positions us as a leading provider of high-quality results.  The following is a partial list of our services:

  • Part-time & Interim CFO and Controller
  • Accounts Receivable | Credit & Collections | Travel & Entertainment
  • Financial Statement Audits & Reviews of Private Companies
  • Internal Audits & Internal Audit Support
  • Individual, Corporate and Partnership Tax Returns
  • Budgeting and Planning
  • IT Assessments | Leadership | System Selection and Implementations
  • Financing | Turnarounds
  • Year-end Audit Preparation | Reconciliations
  • Financial Statements | SEC Reporting | IFRS
  • Internal Control | Sarbanes Oxley
  • Board positions

For further information or to schedule a free no-obligation meeting, please call Mark Olson at (310) 330-6479 or email him at mark@markolsoncpa.com

Is Your Company Ready for an Audit?

Now is a good time for companies to prepare for their year-end audits.  However, many companies are unprepared.  Depending upon the company is and it’s complexity, it can take several weeks to months to be prepared for the audit.

You should consider the following action items and questions before you start:

  1. Start early.
  2. Select your CPA firm early.
  3. Do you have enough qualified resources?
  4. Are your financial statements prepared in accordance with GAAP?
  5. Have you prepared the required footnote disclosures?
  6. Were there any significant changes in your business from prior years?
  7. Will this be a first time audit or review?
  8. Will this be a multi-year audit?
  9. Do you have time to adequately supervise and review?
  10. Did you have a system conversion?  If so, did it go well or not?
  11. Bring in outside expertise.

Oftentimes, outside expertise is the best solution, since it enables your current staff to focus on their day-to-day activities and you simply cannot devote the required amount of time to the audit.

We specialize in helping companies prepare for their year ends.  Please call us at (310) 330-6479 or email us at mark@markolsoncpa.com to discuss your company’s needs.