Services

ACCOUNTING & SMALL BUSINESS SERVICES

Management Financial Reports

Providing insight into each client's financial situation guides them on the road to success. We develop internal reports to help management better understand their financial condition. These internal reports offer specific information that management needs to make key business decisions.

Bookkeeping & Bill Paying

We specialize in supporting small businesses. Our team helps clients, large and small, with their bookkeeping and accounting functions. For many clients, we assume the role of corporate controller and maintain general ledgers on a computerized accounting system that tracks all receivables, payables and taxes. Outsourcing these duties frees clients to concentrate on running and growing their businesses, while remaining confident that knowledgeable, competent professionals are managing their day-to-day financial needs.

Budgets, Forecasts & Projections

Budgets and forecasts act as critical guides in leading your business on the road to profitability. Effective cash-flow management plays a key role in your business’s success, and it involves more than just payables and receivables. We help clients consider the risks and rewards, as well as the short- and long-term implications, of every transaction. From simple projections to complex financial modeling, our experienced staff assists clients in achieving their financial goals through proper planning.

Internal Control Analysis

In today’s world, the threat of fraud looms large and requires constant vigilance to prevent. Internal control systems help protect our clients against theft and waste. Our team implements systems and procedures to provide reliable accounting information and to promote operational efficiency. We incorporate several key components to design a program that prevents employee sabotage, inventory and cash theft, or the double submission of purchase orders. Grassi analyzes our clients’ controls, evaluating their entire accounting process and arming them with strategies that minimize theft and waste.

ASSURANCE SERVICES

At Grassi & Co., traditional accounting and auditing services remain the core of our strength and reputation. Our clients continue to seek the clear, organized, accurate financial statements that we provide. The Grassi name lends credibility to each of the financial documents we produce. Businesses, banks, sureties, and regulatory agencies often use our financial statements as the industry standard.

Financial Statements

Banks and other credit grantors rely on Grassi to prepare thorough, accurate, timely, and objective financial statements. Easy to read and understand, our reports include color charts and graphs that clearly depict clients' financial status. Our reports are supplemented with value-added information that goes beyond customary reporting. We provide our clients with comparative financial ratios for past and current performance and compare their performance to industry standards. This data helps them better understand their financial position so they can make clear and informed business decisions.

Audits, Reviews, Compilations

Audits, reviews and compilations hold the key to understanding the dynamics of any business or organization. The Grassi team develops a distinct understanding of our clients’ businesses during each engagement. This knowledge allows us to develop strategic, operational and financial recommendations that bring value to their organizations. In addition, our team understands that "time is money." We plan and coordinate each engagement to minimize the time and disruption to our clients’ day-to-day operations.

Web Security and Privacy Assurance

As the Internet and e-commerce become increasingly popular, so do instances of fraud and abuse. The accounting profession has developed a program, administered by trained CPAs, that helps e-commerce businesses reduce their risks and promote confidence within the public. The program identifies risks, including possible privacy breaches, security gaps, and other system flaws that can affect the customer interface; benchmarks and encourages best practices; and independently verifies that the site complies with the International WebTrust Standards for e-commerce. Our team can provide your site with the WebTrust seal of approval and guide you in promoting WebTrust in your marketing efforts.

Sarbanes-Oxley Section 404 Support

The Grassi team works with publicly held companies who are required by the SEC to comply with Sarbanes-Oxley Section 404. With in-depth knowledge of financial reporting processes, internal controls and financial systems, our specialists offer the skills and experience to ensure compliance. Working with management and external auditors, we educate and guide clients through the Section 404 process. We offer solutions that meet each firm's particular needs-from planning and executing compliance projects to the design, setup and documentation of necessary controls and ongoing maintenance.

TAX PLANNING & PREPARATION

Individuals face a wide array of financial questions in the quest for long-range financial security. Our team helps clients design a comprehensive plan to reach their financial objectives. Grassi analyzes the current status of clients' investments, tax, insurance, retirement and estate plans. We dissect each component and make recommendations for improvement. Because the elements of a sound financial plan are interwoven, the Grassi team regularly monitors the plan and assists in making modifications that reflect clients' changing needs, goals and priorities.

Retirement Planning

Planning for the future is more important now than ever. With the bleak future of Social Security and the continued reduction of employer-sponsored retirement plans, we all need to plan ahead for retirement. Grassi helps both individuals and businesses design and manage customized retirement plans. Through the analysis of various program alternatives, our team designs programs that allow clients to retain more of their assets. Our professionals help with planning for IRAs, 401(k)'s and other qualified plans. We assist clients to ensure their retirement plans meet current and projected lifestyle needs.

Estate Planning

Our team understands the time and effort clients have devoted to accumulating and managing their wealth. Grassi helps create programs that protect and preserve assets for future generations. We analyze their complete financial situation and advise them on the best use of estate-planning tools, including trusts, wills, private foundations, charitable gifts and succession planning-always considering the tax regulations and consequences.

Succession Planning

Grassi develops succession plans that ensure the tax-efficient transfer of business management and ownership to the next generation. Our professionals help preserve what our clients have worked so hard to earn. In addition, our team provides the services necessary to support this planning, including business valuations, shareholder buy/sell agreements, stock option plans, creation of family limited partnerships, and support with the sale of clients’ businesses.

Investment Strategies

Our investment advisors work with clients to develop customized wealth management strategies. We customize each portfolio according to such factors as risk tolerance, tax liability, and short- and long-term market expectations. We keep clients informed with a consolidated financial statement detailing their investment holdings.

Charitable and Gift Giving Strategies

Our professionals regularly review the latest tax laws and regulations to help plan financial strategies. These services include preparation and review of annual income, estate and gift tax returns. Our team develops life-long gifting programs that use appropriate vehicles such as family limited partnerships, charitable trust, and qualified residence trusts. We also advise clients on pre- and post-mortem estate and income tax planning.

Financial Administration

In addition to planning clients’ personal wealth, we help manage assets on a day-to-day or yearly schedule. Our services include bill paying, bookkeeping, cash flow management, budgeting, and financial statement preparation. Where necessary, we act as a “personal CFO” and provide all functions necessary to oversee clients’ finances. We also provide contract and royalty reviews, insurance coverage analysis and oversight, assistance with the purchase of high-priced items (e.g., homes, cars, boats, etc.).

Tax Projections

As part of the tax planning process, our team helps clients understand the full tax implications of their financial decisions. Armed with this information, clients can protect their wealth and assets by avoiding tax pitfalls. We help clients create, modify and execute a carefully designed tax plan.

Tax Negotiations and Settlements

When communicating and negotiating with tax authorities, professionals who know the tax system—and the policies and procedures of the authorities—are invaluable allies. Clients rely on us to negotiate IRS and State Tax settlements, arrange installment plans with the Collection Division, reduce tax liabilities by preparing Offers in Compromise, prepare petitions to Tax Court, remove tax liens and levies, and stop the accrual of penalties and interest assessments.

Through successful negotiation, our specialists have secured millions of dollars in penalty reductions. We also facilitate and clarify information exchanges between parties. Our experience and reputation help clients settle any tax issues quickly and efficiently, acting with their best interests in mind.

BUSINESS ENHANCEMENT SERVICES

Cash Flow & Budget Analysis

The Grassi team prepares cash flow and budget analyses, a valuable management tool that serves as the foundation of a company's financial plan. We create an annual cash flow plan, which we monitor and update. More importantly, we show clients how to set up strategies to help reach their budget goals. These strategies can include maintaining general and payroll accounts, setting up payment schedules, establishing credit policies, providing inventory controls, and developing tax strategies.

Profit Enhancement Strategies

Our experts help management teams develop ways to increase profitability. The team analyzes clients’ business operations, including production, marketing, personnel and management. To ensure efficiency, the team guides clients in prioritizing and implementing solutions and improvements to increase their profits.

Operational Reviews

Many companies overlook value-added services when managing operations. We ensure that every aspect of our clients’ business works effectively and efficiently and contributes to their bottom line. During an operational review, our team examines and evaluates all operating, develops strategies to overcome identified problems, and guides the client in implementing corrective measures. Our team also initiates monitoring systems to evaluate the ongoing performance and effectiveness of the programs instituted.

Performance Benchmarking

Performance measurement provides our clients with a tangible advantage. Our team provides detailed scorecards that show how clients’ businesses perform compared to the competition. This process provides specific information on areas in which the company excels and those that need improvement. Measuring performance is a challenge, but the process allows clients to understand what they need to manage, change or maintain within their organization. Grassi delivers reliable, specific and actionable performance standards, based on assessments of our clients’ performance compared to relevant competitors. These tools enable clients to succeed in this ever-changing business environment.

Succession Planning

Grassi develops succession plans that ensure the tax-efficient transfer of business management and ownership to the next generation. Our professionals help preserve what our clients have worked so hard to earn. In addition, our team provides the services necessary to support this planning, including business valuations, shareholder buy/sell agreements, stock option plans, creation of family limited partnerships, and support with the sale of clients’ businesses.

HUMAN RESOURCES CONSULTING

Our team helps businesses and organizations cultivate their most important asset—their employees. In today's competitive job market, hiring and retaining quality employees presents an ongoing challenge. Our professionals have experience in all phases of design, compliance, administration and communication of employee compensation/benefits programs, as well as other human resource tools. We help clients develop programs that enhance all human resource functions.

Recruiting Process

Our team assists clients in hiring and retaining the best people for their financial positions. We can develop job descriptions, define skills and write ads that identify the most appropriate candidates. If desired, we can also conduct a confidential search and perform preliminary interviews. We can then narrow down the candidates and recommend the individuals who would best fit. Clients save time by meeting only with highly qualified candidates.

Benefit and Compensation Plans

Grassi creates benefit and compensation programs that meet clients’ specific needs. We review existing plans, evaluate their current value and determine how well they support current and future objectives. We prepare options for executive compensation plans and develop employee benefits programs, including deferred compensation plans, retirement plans and other incentive programs that retain key employees. Most importantly, we assist clients in the implementation process and communicate necessary information and/or changes to all employees.

Policy and Procedure Manuals

In today's changing work environment, both employer and employee must be aware of job expectations and requirements. We have experience in developing custom employee handbooks and procedure manuals that include all federally mandated requirements.

Training Programs

We train client management teams to ensure they have the tools necessary to direct the company. Grassi experts develop programs that increase performance and meet the specific goals and strategic objectives of our clients.

FINANCING ASSISTANCE

The Grassi team helps clients secure capital for business start-ups and expansions. We introduce clients to lenders and meet with bank and lending institutions. Our experts also help find venture capital funds and develop an IPO. We not only assist clients in identifying viable funding sources, but we also prepare funding proposals to obtain the financing our clients need.

Gathering Financial Data

Potential lenders require detailed financial data when considering loan requests. Grassi uses clients’ past performance and future goals to develop realistic forecasts that outline their company's future. This process allows our team to determine the size of the loan required, while calculating a repayment schedule and interest costs that work within the client’s budget and meet their strategic objectives. In addition, our team will advise you on obtaining the best loan agreement terms.

Raising Capital

We help a wide range of clients—from start-ups to established businesses—who seek to expand. Grassi provides the tools and contacts necessary to raise capital. We maintain close, long-standing relationships with various financing and venture capital groups. This network allows us to connect clients with the best resources to meet their needs. We provide the necessary documentation and concise, easy-to-understand reports that help our clients raise funds.

Commercial Financing

Our expertise goes beyond traditional bank loans. We have the knowledge and resources to advise clients on many asset-based lending opportunities, including receivables financing, inventory financing and equipment financing. By analyzing their current situation and planning for the future, we help clients make important financial decisions that support their particular needs.

Bank Loans

Our team has established relationships with many of the area’s most prominent bankers and credit grantors—many of whom engage our services themselves. These partners are confident that the financial statements we provide are comprehensive, accurate and objective. Our network allows us to connect clients with the people who can best help them meet their business objectives.

Non-Traditional Financing

Many companies are unaware of the many valuable non-traditional financing options available. Our team offers the support and documentation needed to secure many types of non-traditional financing, such as receivables financing, inventory financing, equipment financing and acquisition financing.

Mortgages

Grassi helps clients obtain mortgages on new real estate—or use existing holdings to secure additional financing. We help advise the best financial terms and conditions for the mortgage to promote business longevity and ongoing success.

Business Plans

The Grassi team prepares detailed written documents that describe current operations, as well as future prospects and plans. We help clients develop a financial model with realistic, strategic and timely goals. The final plan integrates essential elements of marketing, operations, management and finance; it creates a complete picture that serves as a roadmap to greater success and profitability.

INFORMATION TECHNOLOGY SERVICES

Remaining competitive in today's fast-paced marketplace requires efficient use of technology. Our team provides technological expertise and insight to help businesses gain a competitive edge for long-term success and growth. Grassi has a sister company, GCM Systems, which provides information technology services.

Needs Assessment

We identify areas where technology can improve clients’ efficiency and profitability. We evaluate existing procedures and determine the organization’s immediate and long-term needs and objectives. We then develop and implement appropriate management procedures and recommend strategies that will minimize the system's obsolescence.

Hardware & Software Procurement

We determine the computer accessories and hardware required to help clients meet current and projected goals. We work hand-in-hand with clients to analyze and implement software programs that deliver results.

Training

Qualified trainers provide software training, both on- and off-site. On-site training increases employee effectiveness and offers exposure to "real-life“ situations. On-site training also allows us to identify problems as they occur and make necessary modifications, testing and troubleshooting to ensure these solutions work. Additionally, we offer online/remote training sessions with clients that are efficient, convenient, and extremely cost-effective.

Support

When clients need technical support, our team is only a phone call away. Innovative software programs enable us to work within our clients’ systems from anywhere in the world. This remote-access technology allows cost-effective and immediate assistance and support.

Networking Services

Regardless of geographic location, we connect clients to the people who matter most to their businesses. Today’s technology allows electronic, “real-time” communication. Groups of individuals, business divisions and even different companies can work on the same system and share updated information. Networking technology increases productivity and provides a competitive edge in today's business world.

Custom Programming

Many software applications require extensive customization to deliver maximum productivity. We ensure the success of our clients’ systems by designing programs to be user-friendly and readily available.  

Disaster Recovery Planning

The world of hackers, viruses, terrorism and disasters demands business continuation plans. What do businesses do if their building burns down, or if a hacker or virus destroys their servers? We design systems and procedures that permanently preserve clients’ critical information. Comprehensive planning allows clients to survive a potentially devastating crisis and continue operations during the rebuilding process. Continuity experts identify critical products and services, analyze risks and exposures, define a recovery strategy, develop and document detailed plans, and create a system to test, evaluate and revise these plans. We have helped many clients avoid catastrophic disruptions.

Technology Staff Recruitment Services

Hiring for information technology positions requires extensive IT experience. Our team determines the type of employees needed and the skill sets they should possess to meet a firm’s objectives. We help create and implement the recruitment, placement and retention strategies our clients need to hire and keep top talent.

Statement on Auditing Standards (SAS) No. 70

In today's global economy, service organizations and service providers must show that they have adequate controls and safeguards when they host or process customer data. The Grassi team’s SAS 70 Readiness Assessments certify that clients have passed an in-depth audit of their control activities, including controls over information technology and related processes.  

The SAS 70 Readiness Assessment identifies areas of weakness that may need correction to successfully complete a SAS 70 Type I or Type II Report. We provide an initial opinion on the control environment and make recommendations to correct deficiencies or potential problem areas. Some of the areas evaluated in the readiness assessment include:

Information Technology

• IT oversight & administration
• System development life cycle
• Program change management
• Information security
• Physical security
• Disaster recovery & business continuity
• Backup & recovery
• Computer room controls (environmental, smoke & fire detection)
• End user computing controls

Financial / Business

• Financial and operations - Oversight & administration
• Financial and operations  - Policies and standards
• Automated and manual controls over financial processes and transactions

We perform these services to leverage our understanding of our clients and their industries. Our experts identify, evaluate and report only on critical controls that ensure the availability, security and integrity of key financial, operational and technology processes.

LITIGATION SUPPORT

The Grassi team delivers high-quality investigative and litigation services in a timely and cost-effective manner. Our skilled professionals, many of whom maintain the Certified Fraud Examiner (CFE) credential, offer an unsurpassed level of training, experience and sensitivity to confidentiality. This expertise, supplemented by advanced technology and nationwide resources, allows our team to manage the critical and emerging issues that challenge our clients.

Fraud Detection and Prevention

Our anti-fraud professionals use both traditional accounting practices and sophisticated analytical skills to detect and uncover internal and external fraud, such as employee theft, commercial bribery and kickback schemes. We also help clients protect their businesses by assessing internal controls, tracing possible avenues of theft, and designing and implementing policies and procedures that deter fraud and abuse.

Forensic Investigations

Trained in accounting, finance and information technology, our professionals offer creative solutions to the most complex business problems. We know how to obtain relevant facts by interviewing personnel and examining business records.

Due Diligence

Our professionals assess businesses and the financial elements of transactions to provide boards of directors, corporate executives, officers, attorneys and other stakeholders with relevant and important information. The documentation and suggestions we provide allow clients to make strategic decisions with confidence.

Expert Testimony

The Grassi team has extensive experience in providing expert testimony and preparing comprehensive reports. The combination of our educational backgrounds and certifications, including CPAs and CFEs (Certified Fraud Examiners)—in addition to our industry and technical expertise—guarantees quality support.

Credit Risk Appraisals

Our professionals conduct in-depth reviews to evaluate existing and potential credit-risk situations, thus preventing the loss of time and money. We analyze a number of issues, including damages and liability assessments. Our in-depth analysis provides the information you need to make business decisions with confidence.

Business Interruption & Lost Profit Analysis

Grassi experts possess the competency and knowledge to quantify and substantiate business interruption, lost profits and extra expense claims.  We work with clients throughout the claim process and assist in preparing timely and accurate claims.  Intimately attuned to the insurance claim process, we prepare clear, concise claims in the easy-to-read format that insurance companies require.  

Business Valuation

Our valuation services apply to a variety of circumstances, including mergers and acquisitions; business divestitures; buy/sell agreements; divorce; estate planning; taxation; and litigation support. Our team’s findings have been instrumental in securing complex engagements for major corporations and in settling other financial disputes. Grassi values a business by interviewing management and analyzing industry information, economic conditions, and relevant tax and financial data. Our valuation experts are experienced in a range of industries and organizations, including healthcare, manufacturing, distribution, food and beverage, construction, real estate, and family limited partnerships. Using nationally accepted methodologies and approaches, we determine an objective valuation  based on reasonable assumptions.

Matrimonial Services

Grassi’s forensic accountants play an integral part in matrimonial litigation.  We help clients uncover, analyze and present complex financial matters in a way that the courts and all parties understand. Our forensic professionals assist clients and their attorneys in several areas, including initial discovery requests, financial analysis and dispute resolution.   Our matrimonial services include:

Business Valuation

• Valuation of businesses belonging to the marital estate
• Attendance and assistance in depositions
• Enhanced earnings capacity analysis
• Preparation of expert reports as necessary

Forensic Investigation – Discovery of Hidden Income or Assets

• Evaluation of compliance with GAAP & GAAS 
• Review of business books and records to determine necessary adjustments for business valuation, personal income or hidden assets
• Conduct interviews
• Assist in preparation of interrogatories
• Attend and assist in depositions

Forensic Investigation – Analysis

• Assess fairness or accuracy of underlying financial information
• Assist business appraiser in determining “normalization adjustments”
• Search for income or asset dissipation
• Determine income available for support
• Compute reasonable needs or living expenses
• Determine marital assets subject to equitable distribution
• Trace assets to preserve and/or refute the existence of separate property

Litigation Support – Expert or Consultant

• Trial preparation of exhibits and testimony
• Mediation/Arbitration/Joint Engagement
• Review reports or analyses of opposing expert
• Testify as expert witness

VALUATION SERVICES

Business Valuation

The Grassi team’s valuation services apply to a variety of circumstances, including mergers and acquisitions; business divestitures; buy/sell agreements; divorce; estate planning; taxation; and litigation support. Our team’s findings have secured multimillion-dollar engagements for major corporations and settled marital dissolutions of high-worth couples. Grassi values your business by interviewing management and analyzing industry information, economic conditions, and relevant tax and financial data. Our experts are experienced in a range of industries and organizations, including healthcare, manufacturing, distribution, food and beverage, construction, real estate and family limited partnerships. Using nationally accepted methodologies and approaches, our team determines an objective valuation based on reasonable assumptions. The Grassi business valuation practice employs seasoned certified valuation analysts (CVAs) and certified public accountants whose years of experience and real-world expertise assist clients with all aspects of valuation and litigation support.

Enhanced Earning Capacity

Valuation of enhanced earnings is one of the most controversial areas of matrimonial litigation. This service calculates the value of expected future earnings enhanced through some educational, professional or career attainment earned during the course of a marriage.  The controversy arises because the practice converts the expected earnings stream to an asset subject to division—without the opportunity for recourse if future circumstances change the earnings stream or work life duration. The Grassi professionals use a well-founded mathematic model to determine enhanced earnings capacity. Our calculations have been used in neutral third-party court appointments and in cases supporting one party in a divorce.

Business Interruption & Lost Profit Analysis

Grassi experts possess the competency and knowledge to quantify and substantiate business interruption, lost profits and extra expense claims.  We work with clients throughout the claim process and assist in preparing timely and accurate claims.  Intimately attuned to the insurance claim process, we prepare clear, concise claims in the easy-to-read format that insurance companies require. 

CORPORATE GOVERNANCE SERVICES

Positive public perception is your organization’s greatest asset.  Regrettably, the actions of a few have spurred widespread negative opinion. At the same time, organizations that take a proactive approach to discovering and correcting problems find public judgment much more lenient. Our experts guide companies through the steps required to re-establish their good standing. The Grassi team has helped organizations achieve and maintain corporate governance for more than a quarter century. We understand the importance of well-maintained systems of accountability, internal control, independence and transparency.

Statement on Auditing Standards (SAS) No. 70

In today's global economy, service organizations and service providers must show that they have adequate controls and safeguards when they host or process customer data. The Grassi team’s SAS 70 Readiness Assessments certify that clients have passed an in-depth audit of their control activities, including controls over information technology and all related processes.   The SAS 70 Readiness Assessment identifies areas of weakness that may correction to successfully complete a SAS 70 Type I or Type II Report. We provide an initial opinion on the control environment and make recommendations to correct deficiencies or potential problem areas.  Some of the areas evaluated in the readiness assessment include:

Information Technology:

IT oversight & administration
System development life cycle
Program change management
Information security
Physical security
Disaster recovery & business continuity
Backup & recovery
Computer room controls (e.g., environmental, smoke & fire detection)
End user computing controls

Financial / Business:

Financial and operations - Oversight & administration
Financial and operations  - Policies and standards
Automated and manual controls over financial processes and transactions

Issuance of Report

We leverage our understanding of our clients and their industries. Our experts identify, evaluate and report only on critical controls that ensure the availability, security and integrity of key financial, operational and technology processes.

Sarbanes-Oxley Section 404 Compliance

The Grassi team works with publicly held companies required by the SEC to comply with Sarbanes-Oxley Section 404, as well as with not-for-profit organizations pressured for compliance by a third party or board of directors. With in-depth knowledge of financial reporting processes, internal controls, and financial systems, our specialists provide skills and experience to ensure compliance.   We work with management and external auditors to educate and guide clients through the Section 404 process. We offer solutions that meet each organization’s particular needs—from planning and executing compliance projects to the design, setup and documentation of necessary controls and ongoing maintenance.

Evaluation and Enhancement of Internal Controls

The Grassi team has experience dealing with all types of organizations. We assist clients in developing and implementing strong internal control systems.  This service includes writing policies and procedures to prevent and detect fraud and misuse of clients’ funds and assets.

Internal Controls Training

Internal controls are complex; therefore, client personnel must develop and maintain a thorough understanding of their accountability system. We help them achieve this objective through in-depth training that offers a comprehensive understanding of internal controls and their effect on the organization.

Board Independence & Accountability

To ensure our clients’ boards of directors act as an impartial, independent third party, we review and update their roles, responsibilities and mission statement as it relates to independence and accountability.

Whistleblower Protection

To protect clients who discover scandal, malpractice or corruption, the Grassi team helps develop a formal process for dealing with and preventing retaliation against whistleblowers.

Appointment of Audit Committee

Audit Committees oversee the accounting and financial reporting processes, as well as financial-statement audits.  Statistics show that establishing such committees can expedite the identification of fraud and allows more complete disclosures.  The Grassi team helps clients create these committees and/or ensures fulfillment of the necessary responsibilities.