I am an outsourced accountant of a small business and basically just prepar e their financial statements from the data they provide. Company needs a b usiness valuation and has hired a CPA firm for that. Is it a common practi ce for a CPA firm to ask me for a copy of my (Quickbooks) Company file? Al l I really have is general ledger activities and depreciation schedules. I don't handle their payroll or accounts payable sub-systems.
Thanks for your help!
their financial statements from the data they provide. Company needs a business valuation and has hired a CPA firm for that. Is it a common practice for a CPA firm to ask me for a copy of my (Quickbooks) Company file? All I really have is general ledger activities and depreciation schedules. I don't handle their payroll or accounts payable sub-systems.
As a business owner that does its own accounting through financial statements and tax returns internally, this is how I would respond:
We just get the data you are asking for from the client. I suggest you contact them.
(I would not want the CPA firm, which ended up presenting questionable data to a third party (the buyer) to say they got the data from Mr. Sharma. I also would not want to give the data my staff entered into our computer to someone for free, although the paltry sum you might charge would be dwarfed by the lawsuit from the buyer.)
John Sowden American Sentry Systems, Inc.
are their financial statements from the data they provide. Company needs a business valuation and has hired a CPA firm for that. Is it a common prac tice for a CPA firm to ask me for a copy of my (Quickbooks) Company file? All I really have is general ledger activities and depreciation schedules. I don't handle their payroll or accounts payable sub-systems.
Thank you so much John! Appreciate your reply.
Accountant 20+ years. Word to the wise. You both sound like your somewhat clueless here. The correct answer is anyone with actual accounting experience DOES KNOW THE ANSWER!
Secondly, your response tells me you are willing to misrepresent your financial data to the Gov. so as not to have to pay $ to hire. lastly I have made a lot of money ...cleaning up after people like you both. Heed my words, sooner or later someone like me WILL HAVE TO SHOW UP, ...we are getting fed up, I AM going to authorities! And since neither one of you is "actually knowledgeable".....well I guess you wont know who is about to investigate or for what. The "I had to let my bookkeeper go" bull"s shit does not work with many government agencies. but it looks like you are going to find out soon. Don't be petty (or in your cases petit), and hire someone who actually KNOWS accounting........and pray my firm doesn't send me to clean up your mess...regards
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