As noted on our Home page and our “About Us” page, we specialize in seven niche services areas that mirror Lewis Sharpstone’s core competencies and expertise. On this web page we take a deeper dive into each service.
1. Audits of nonprofit organizations. Lewis performs reviews and compilations for nonprofits too if requested
2. Form 990 and related state forms preparation for nonprofit organizations
These first two niche service areas are designed to help nonprofits demonstrate accountability to stakeholders and are performed in this spirit.
For smaller nonprofit organization, a review or a compilation might be a cost-effective alternative to an audit. We would be pleased to discuss these options with you.
For each service, we place heavy emphasis on planning, to ensure we deliver all final deliverables on time.
3. Employee Benefit Plan (ERISA) audits
Similar to nonprofit organizations, those responsible for the operation and oversight of each employee benefit plan have a fiduciary duty towards the plan and its participants and stakeholders. We bring our helpful yet independent mindset to each audit of an employee benefit plan in order to help each client properly exercise its fiduciary duty over the plan.
4. Outsourced Accounting Services (bookkeeping and more) for smaller nonprofit organizations and small businesses
There’s only one way to do bookkeeping. Timely and right the first time. No that’s not two ways 😊! That’s one integrated way and the way we do it.
Its not unusual to take on a new client where there is some catch up accounting to do and also some settling into a routine that works well for the new client and us. We enjoy the process of getting a client’s bookkeeping to routine and correct.
Nonprofit accounting is in many ways more complex than for profit accounting. This is because
We possess the expertise and experience to deal with these complexities. In addition, we will if requested attend management and/or board meetings and explain what the numbers are saying.
Bookkeeping however is just the beginning. We offer the full range of outsourced accounting services, including payroll management and billing.
5. Outsourced /interim CFO services
For the smaller nonprofit organization that would benefit from utilizing the services of an experienced Chief Financial Officer CPA but not full time, we offer highly tailored outsourced CFO services. We can provide these on a one-time basis if required, on a specific narrow project basis (such as consulting on implementing a new accounting pronouncement such as revenue recognition – ASU 2014-09 and ASU 2018-08), or on a recurring basis each week or month.
For nonprofit organizations that unexpectedly find themselves temporarily without a CFO CPA we offer highly tailored interim CFO services.
Services offered under this category would include assistance in preparing for an upcoming independent audit where your organization is struggling to close the books and/or prepare the auditor required schedules and information.
The key to the successfully providing these services are:
6. Teaching, training, conducting seminars and board advising. Specialist areas include new accounting pronouncements, governance and ethics.
Although our firm has “standard” presentations and “customized” presentations, its important to understand that every presentation is carefully customized to each occasion. Standard presentations are simply those we have conducted many times before where we can tailor the materials relatively easily to each occasion.
Current “standard” trainings are as follows:
· New accounting pronouncements for nonprofit organizations
· Nonprofit governance best practices
· Finance and accounting for non-accountants (designed for nonprofit executive directors, CEOs and Board members and officers)
· Financial statements explained (designed for small business owners and entrepreneurs)
· Fraud prevention principles
· Ethics
7. CPA firm QC assistance
Our firm offers other smaller CPA firms a highly tailored service as an outsourced engagement quality control resource.
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