After-the-fact Accounting (AFA)
Startups and small companies like to use NBAC to post their business transactions and/or review what has been done by internal accountants, reconcile their bank accounts, generate financial statements and deliver timely financial analysis. Most importantly, the business owners look for well-timed advice on financial and risk management, tax planning and compliance, inventory control and intangible assets.
Outsourced International Accounting Department (OIAD)
Larger international companies, especially those domiciled outside of the U.S., rely on NBAC for a full range of accounting functions performed on a daily basis. Over the years, a proprietary process built by NBAC and supported by the internally developed software products, provides full transparency, above-average work efficiency and very easy communications. Therefore, these services can be compared to leasing the whole accounting department with high quality staff. This has proved to be an efficient way of replacing an expensive recruitment process of accountants and controllers, reducing risk of fraud and embezzlement, significantly improving clients’ bottom line.
In recent years, there has been a disconnect between information provided in financial statements and the information needs of investors and creditors. Most recently, some have characterized this as a disconnect between "new economy" companies and "old economy" financial reporting. In particular, many have contended that financial statement users need:
- More disclosure of nonfinancial information
- More forward-looking information
- More information about intangible assets.
Whether buying or selling a private business, going for a next round of financing or taking a company public, it is imperative to do good homework in valuating a business. Excellent valuation work for smaller companies requires consideration of a lot of factors, some of which are less tangible than others but are incorporated in the process of making accurate assessments. These valuation assessments are highly instrumental in wealth creation for business owners.
Streamlining Tax PaymentsAn overwhelming number of deadlines in a daily business routine is complimented by ever increasing tax payment deadlines that are usually set on different terms by different tax agencies. Estimated federal and state income tax payments, property taxes, sales taxes and business franchise taxes are to name a few. Missing a payment usually means hundreds or thousands of dollars in penalties and interest. Having a system utilized by a third party allows a company to make business operations most cost-effective and enhances risk management by removing responsibility for timely tax payments to a third party.
Today's global business world requires companies to be less leveraged and more self reliable when it comes to cash flow. As a result, companies turn to cash flow management to uncover internal areas for improvement and potential for growth. Cash flow analysis shows the money go in and out of business and involves examining the components of the business that affect cash flow, such as accounts receivable, inventory, accounts payable, and credit terms.
- go to App Store for W-EZFILE
- securely file and sign a W-9 and W-8BEN
- store these forms in PDF format on our client portal
- replace them based on IRS requirements
- visit www.w8ez.com for more information