Manufacturing & Distribution

Services for Manufacturing & Distribution Companies

Audit & Attestation

  • Audit, Review and Compilation of Financial Statements
  • Agreed-Upon Procedures
  • Employee Benefit Plan (401k) Audits

Tax Planning & Compliance

  • Corporate Tax Planning and Preparation
  • Entity Structure to Optimize Tax Efficiencies
  • International Tax Planning and Preparation
  • State and Local Tax (SALT)

Business Advisory

Forensic Accounting

  • Economic Damages/Lost Profit Calculations
  • Expert Testimony
  • Fraud & Fraud Investigations
  • Asset Tracing

How We Can Assist with Current Manufacturing Accounting & Tax Issues

Recovery from Vendors

Oftentimes actual contract delivery and performance varies from the terms of a supplier contract, causing hidden losses for a medical practice; in our experience, few companies even attempt to reconcile such non-delivery or underperformance.

How to prepare: Briggs & Veselka professionals can perform audits of actual vs. contracted performance and, depending on the terms of the contract, find cash recoveries for your practice. Proactively, we can examine current contract structure from a performance standpoint to advise you on how to create opportunities for recovery in future contracts. For more information, contact Andy Kuntz at akuntz@bvccpa.com.

Cost Management for Internal Financial Functions

Supplier billing, month-end closings, and reports for lenders can place burdens on your existing finance and accounting staff and impede the cash flow of your company.

How to prepare: Briggs & Veselka’s Outsourced Accounting Services provides you budget flexibility and control when you require interim support of full back office accounting functions. For more information, contact Terry Sherrill at tsherrill@bvccpa.com.

New Lease Accounting Regulations

These new lease accounting regulations could have impact on bank loan covenants as they might change the borrowing base for many loans essential to many manufacturing companies.

How to prepare: Briggs & Veselka is already working with companies to advise them on the possible implications of these new accounting regulations to help them prepare possible revisions to existing covenants and as guidance for future loan agreements. For more information, contact Andy Kuntz at at akuntz@bvccpa.com

New Accounting Standards for Revenue Recognition

Under the new FASB rules, which go into effect on December 15, 2016 for public companies and in 2017 for all companies, contracts must meet certain requirements before revenue can be recognized.  Additionally, contract modifications and performance obligations fall under new scrutiny, and the incremental costs of obtaining a contract will be recognized as an asset, which could impact your balance sheet.

How to prepare: The Briggs & Veselka manufacturing practice has prepared a confidential, no obligation checklist to allow management of management companies’ better insight into the impact of these FASB rules, which could impact contracts being executed even before the regulations go into effect. Contact Andy Kuntz at akuntz@bvccpa.com.

Sheila_Enriquez

Sheila Enriquez

Audit Shareholder, CPA, CFF, CVA, JD
senriquez@bvccpa.com
713-667-9147

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David_Phelps

David Phelps

Business Advisory Shareholder, CPA
dphelps@bvccpa.com
713-353-1941

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Mark_Schaaf

Mark Schaaf

Tax & Valuation Shareholder, CPA, CVA
mschaaf@bvccpa.com
713-353-1922
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Joe Alcorta

Audit Principal, CPA
jalcorta@bvccpa.com
713-353-1978
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Lynell_Lilly

Lynell Lilly

Tax Shareholder, CPA 
llilly@bvccpa.com
713-353-1999
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    Fast Facts

    • An integrated  practice offering audit, tax and business consulting solutions for middle market and larger manufacturing construction companies
    • Proactive solutions to allow manufacturing and distribution companies plan ahead on changing financial and regulatory issues (see left)
    • Insights into the tax implications of multi-state operations, and the personal and entity structure implications of closely-held manufacturing companies
    • Access to a global network to assist with entity structure, tax, and operational issues in every manufacturing center in the world