Under the Big Top at Whittlesey & Hadley, P.C. An accounting firm … and a whole lot more!
What goes on Under the Big Top? • Review major functions of each entity, niche • Better acquaint you with services and service providers • To help you present the “big picture” • Case studies
In Ring Number One: • Accounting and Auditing Services • Financial statement preparation, analysis • Audits, reviews, compilations • Agreed-upon procedures • Forecasts/ projections • Tax planning and preparation
In Ring Number Two: • Tax Planning • Action plans • Tax assistance with complex transactions • Real estate transactions • Estate and retirement planning • Investment, life insurance analysis • Federal, state return preparation
In Ring Number Three: • Advisory Services • Merger and acquisition strategies • Succession planning • Financial planning • Litigation support • Business valuations
An accounting firm and a whole lot more! • The Technology Group, LLC • Charter Oak Resources, LLC • Niches • Health Care • Nonprofit • Manufacturing • Affordable Housing • Construction • Credit Unions
The Technology Group, LLC • Established 1998 with staff of one; in 2002, staff of seven • Consulting Services • Information Technology Services
The Technology Group, LLC • Consulting Services • Information Technology security audits • Not-for-Profit business consulting • Data management evaluations • Start-up assistance • Accounting system implementation, support • Training
The Technology Group, LLC • Consulting Qualifications • MIP Certified Consultant, Reseller • Intuit Professional Advisor (QuickBooks) • PeachTree AccountCare Members
The Technology Group, LLC • Information Technology Services • Information systems • LAN and WAN solutions • IT security audits • Website development • Internet/ intranet/ email solutions • Service and maintenance (outsourced IT)
The Technology Group, LLC • Information Technology Qualifications • Microsoft Certified Partner • Microsoft and Cisco Certified Engineers • Dell Licensed Resellers
The Technology Group, LLC:What sets us apart • Technology Advisor vs. “fix-it shop” • Big picture point of view • Outsourced IT • Compliance consulting (NCUA, HIPAA, et.al).
The Technology Group, LLC • Case History: New York HMO ($650m) • Polaris affiliation • Annual IT security, control review as part of audit • Consulting on IT audit program development • Guidance on financial and IT initiatives
The Technology Group, LLC • Case History: Southend Community Services (audit client) • Requirements analysis on software • Implementation of MIP • Consulting, support on not-for-profit processes • Report writing • Training • Outsourced IT
Permanent, temporary, and temp-to-perm placement services Executive search Contingency search Art Poly Sharyn Blicht Peter Swartz Human resources consulting Human resources administration? Charter Oak Resources, LLC
Charter Oak Resources, LLC • Opened for business Jan. 15, 2001 • Profitable in Year One • Year One sales achieved as of September, 2002 • Growth largely from non-firm clients • PepsiCo, Barnes Engineering, Myers Brothers, Blum Shapiro, Centerprise, UTC, Altus, Hartford Steam, Gerber Scientific, Mass Mutual, Stanley Works, and more
Charter Oak Resources, LLC • Case History: Middlesex Credit Union • Existing audit client • Contingency search • Placement of CFO
HR Audits Compliance Reviews (ADA, FMLA) Personnel policies/ employee handbooks Hiring/ firing Sexual harassment workshops Affirmative action plans Training/ Team-building Reference Checking Genetic Discrimination Charter Oak Resources, LLC: The Value of HR Consulting
Niches: Health Care • You do what you do best: Practice Medicine. • Let us do what we do best: Practice Management.
Niches: Health Care • 80 to 100 clients; all MDs • Solo practices to large groups • Accounting services to consulting
Niches: Health Care • Practice Management • Reimbursement Management • Tax and Accounting Services • Corporate Management • Buy/sell • Compensation • Joint ventures • Financial Management
Niches: Health Care • Johnson Memorial Hospital: Physician Recruitment (8-10 solo practitioners) • Forecasting revenue and expense • Managed care credentialing • Billing system selection • QuickBooks and AP set-up, training • Equipment, supply vendors
Niches: Health Care • Connecticut Valley Radiology • Tax and Accounting Services • Reimbursement Management • Generated additional revenue from HMO
Niches: Nonprofit • 25 year of service • Part of the firm’s past, present and future • About 150 clients • Traditional + Nontraditional services • Audit, tax • Advisory services • Technology • Special projects
Niches: Nonprofit • Case study: Community Partners in Action (10+ years) • Audit • Tax • Consulting • Technology • Placement through Charter Oak
Niches: Nonprofit, Specialized Services • Financial management review, Project MORE • Special reviews, Catholic Family Services • Creation of for-profit entities, Community Partners in Action • Internet work, CT Trial Lawyers • Secured, unsecured website • Full e-commerce site
Niches: Manufacturing • Audit, tax • Operational reviews • Acquisitions/ sales • Buy/sell agreements • Organizational consulting: succession planning, estate planning
Niches: Manufacturing • Case Study: Cooper acquisition of Athens Technical • Due diligence work on-site in Florida • Acquisition negotiations • Tax strategies • Accounting issues • Transition issues
Niches: Manufacturing • Case Study: Dwight Foote, Inc. operational review • Accounting support • Business consulting • Family matters (second generation)
Niches: Affordable Housing • More than 50 clients • Budget development • Audits, reviews • Tax returns • Tax compliance • Application process through CHFA
Niches: Affordable Housing • Case Study: Northeast Hartford Affordable Housing • Limited partner selection • Development budget assistance • Cost certifications
Niches: Construction • 20 – 30 clients, $1m - $50m in revenue • Financial Statement Services • Tax Services • Consulting Services • Hardware, software selection • Business plan development • Cash flow planning, management • Job cost systems • Operation audits • Human resource issues
Niches: Construction • All-Phase Enterprises, Inc. • Calculation of indirect overhead allocation to jobs • Change in software • Resulted in better job reports • More accurate picture of profit/loss on job
Brayman Hollow Assisted with shareholder buy-in of minority partner Patriot Mechanical Buy-sell agreements: owner termination 754 election of assets Niches: Construction
Niches: Credit Unions • 10 years of service; 35 clients • Audit, internal reviews • Internal control reviews/ special projects • Agreed-upon procedures • Technology consulting • Governmental regulations
Niches: Credit Unions • Case Study: First Bristol Federal Credit Union ($65m) • Audits • Internal control review • Due diligence on merger
A member of the community • Founded in Hartford, 1961 • Partnership active in community organizations • United Way Pacesetter • Whittlesey & Hadley Fund, Hartford Foundation
A member of the community Do good, and good will follow.
A member of the community • Drew Andrews, Community Health Charities, CAAS, Science Center of Connecticut • Bud Buckner, Rotary Club of Hartford • Steve Erickson, Stowe Center, Greater Hartford Metropolitan Commission • Ed Jason, Roman Catholic Archdiocese, United Way, St. Francis Hospital • Marty Noreika, VNA Health Care, American Lung Association (CT)
A member of the community • Susan Sheppard, Gifts of Love, Epilepsy Foundation of CT • Ed Sullivan, United Way, Mercy Housing and Shelter • Dave Zubrow, ECHN, Welles Country Retirement Village • Bob Balchunas, New England Jazz Ensemble, Metro Hartford Millennium Project • Mark Barzottini, ECHN, Manchester UNICO, New Hope Manor
AICPA Private Companies Practice Section Six unmodified peer reviews (A+) CSCPA President-elect: Newton Buckner, III Committee involvement, leadership: Drew Andrews, Mark Torello A member of the profession
A member of the profession • Polaris • Task force memberships • Continuing education • Resources (technical, marketing)
Benefits to clients • Partner involvement • Technically superior work • Reasonable fees • Year-round communication • Stable engagement teams • Industry expertise • Superior work ethic
Whittlesey & Hadley, P.C. Building your business is our business.
