Accounting and Bookkeeping

Our accounting and bookkeeping services can be arranged in number of ways. However, two of the most common types are periodic accounting services and full charge bookkeeping.

Periodic Accounting Services

We provide assistance with your general ledger account reconciliations on monthly, quarterly or annual basis, as required by your organization. These reconciliations include the following:

• Cash and cash equivalents
• Investments
• Trade receivables
• Inventory
• Prepaid expenses
• Property, plant, equipment and construction work in process accounts
• Accounts payable and other accrued liabilities
• Long-term debt
• Deferred tax assets and liabilities
• Equity accounts
• Operating and non-operating revenues and expenses

Full Charge Bookkeeping

We perform full charge bookkeeping services to those organizations willing to take advantage of complete outsourcing of the accounting functions. Under full charge bookkeeping, we execute your entire daily accounting transactions, including payroll and accounts payable processing, and compile monthly reports for management’s review.

While full charge bookkeeping is much greater in scope compared to periodic accounting services noted above, it provides you with all the tools and resources required to have top notch financial records without performing this timely and costly work yourself.

Audit Preparation

Companies these days are under an increasing pressure to optimize efficiency of their accounting and finance operations, and Clear Idea Accounting and Consulting offers best practices for audit preparation. In the past, auditors helped clients prepare for their audits, but to avoid the perception of a lack of independence, companies increasingly turn to proven audit preparation services based on established best practices to get ready for their financial audits. Proven audit preparation expertise makes the auditing process more efficient for both the company and their auditing firm.

Delivery of this service can include full audit preparation for all accounts or just preparation of auditable financial statements and footnotes. Our Audit Prep experts identify any transactions or disclosures that do not appear to be in accordance with GAAP, and we create an audit prep binder, prepare a lead sheet for every balance sheet account and provide supporting documentation below the lead sheet that supports the current year's balances. We will prepare a summary list of all major contracts that existed during the year under audit and generate a fluctuation analysis of the current and the prior year's income statement accounts.

Our team of professionals will develop or update each financial statement footnote, creating new footnotes when appropriate. We complete a GAAP disclosure checklist, and most of our Audit Preparation Services are provided by a CFO-level or Controller-level professional, with Accountants assigned for support and GAAP experts available to address complex technical areas.

Consulting

At Clear Idea Accounting and Consulting, it is our objective to push away from a transactional model and move towards a deeper relationship with our clients. Our only measurement of success is your success. Therefore, we provide a number of consulting services to help your business get to the next level. The following are some of those services:

• Implementation and Improvement of Systems of Internal Controls
• Staff Training
• Product Pricing Assistance
• Financial Statements Preparation
• Federal and State Grant Compliance Assistance
• Business Analysis
• Budget preparation
• Cash Flow Forecast Analysis and Cash Management Assistance