Joyce CPA, LLC

Virtual CFO refers to an “Outsourced CFO”. Big Firms often own a Chief Financial Officer to gain advice regarding financial issues. Start ups or small and medium sized businesses are not financially equipped enough to own one, like them. Besides, if the finances even allow them to do so, they are not in favour of having a full time CFO. They don’t want to employ someone whose performance they can’t judge due to the lack of experience. The preferred option they go for is of Virtual CFO Services i. e. Virtual Chief Financial Officer Services.

While handling an organization, it is quite essential for an individual to handle the accounts of the firm aptly. An organization is expected to begin preparing for the accounts and tax preparation early. Documentation and managed records minimize the time and effort wasted while doing your returns and managing your accounts.

Joyce CPA LLC has more than 10 years of experience in providing Accounting and Tax Preparation Services to Businesses. Joyce CPA LLC, seeks to maximize your company’s profitability and efficiency by accurate financial reporting and proactive tax services. Our experience enables you to minimize your current and future tax liabilities. We provide our clients with the taxation expertise and accounting strategies which their business demands throughout the year. Our well-organized approach towards your financial records will help in running your business more efficiently on daily basis. Through our financial planning process, you get acknowledged about your business’s financial needs so as to develop strategies thereby.

Joyce CPA LLC, thus offers a wide range of services to the clients for being pre-prepared for Managed Accounting and Tax Returns that firm demands.

A lot of non-public businesses are not indebted to audit their book annually. While figuring out if you are bound to pay an audit for your 401k plan; primary requirement is to determine the number of eligible participants in the plan at the outset of the plan year. Such plans are termed “Large Plan. ” Joyce CPA LLC has made employee benefit audit (pension plans and 401k plans) it’s specialty in recent years.

Does your 401k plan require an annual 401k Audit?
A lot of non-public businesses are not indebted to audit their book annually. While figuring out if you are bound to pay for your 401k plan audit; primary requirement is to determine the number of eligible participants in the plan at the outset of the plan year. Such plans are termed “Large Plan”. ERISA (Employee Retirement Income Security Act) of 1974 obligates a firm to have their financial statement’s annual audit attached to their Form 5500 through an independent qualified CPA to DOL.

As an employer, you want to offer the best options to your employees so you can stay competitive within your industry and attract the best employee to help build your business. One of the best ways to do this is by offering your employees 401k plans. These plans are one of the most common types of retirement options provided to employees through their companies. However, many companies struggle with deciding whether or not they should offer this option to their employees. One reason is that providing these plans to employees leaves the door open for a 401k audit. If you stay ahead of the curve, you can manage the audits on your own so you have the ability to offer this retirement option to your worker, while simultaneously being in control of when and who does your company audits. If you’re in the Cutler Bay area, Joyce CPA LLC provides all the auditing services you need.

Compliance Audit reviews an organization’s functionary to determine whether it adheres to the regulatory measures and established guidelines specified by the authorities. Joyce CPA LLC offers a series of auditing processes for analyzing a firm and validating its regulatory compliance and business objectives. Our Compliance Audit Services include:

Observation of Processes
Inspection of Documents
Control Measures’ Compliant Testing
Identification of Risks
Risk Management Measures

To analyze the hedge fund’s assessment technique and the compliance of the same; Hedge Fund Auditor works alongside Hedge Fund manager and Hedge Fund Administrator. Hedge Fund Administrator stands central for the Auditor, as he generates the financial statements of funds involved. At Joyce CPA LPC, besides the issuance of Audited Financial Statement; Hedge Fund Auditor also ensures curbed scope engagement and authentication of performance results.

Late and less knowledge of FAR; makes a firm prone to unwanted audits and lesser profitability. In recent years it has become mandatory for a firm to have an accurate overhead rate calculation instead of an estimated FAR overhead rate used by the firms. In their contract Government can impose varied obligations as per established by FAR. Thus these agencies can be either demanding contract bids or can even insist upon the firm’s overhead rate in accordance with FAR. Joyce CPA LLC will be your helping hand in doing so with expertise.

Joyce CPA, LLC provides you with the services that are required for FAR Overhead Rate Calculation:

Accounting software
Job Costing System
Identifying Direct and Indirect Costs
Discarding Unallowable Costs

Healthcare Audit assures regarding the statutory compliance of the services provided by an organization and mandates best practice delivery in a healthcare industry. JOYCE CPA LLC caters to your requirement for Healthcare Audit services with complete knowledge of audit process and healthcare industry. The services we provide include:

Quality Control system.
Internal assessment of processes and control measures.
The assistance of Health Care Auditors who possess beyond par expertise and knowledge of the field.
Extra time allotment to build a close bond with the team that acts a catalyst in the auditing process.
Real Time Solution of complex issues and risks.
Robust Auditing technology.

Due to the new leasing accounting standards which were announced by FASB and IFRS by IASB, all
industries are facing major changes in lease accounting. The new leases standards want you to report
most of your operating leases on the balance sheet by 2019 that is increasing the transparency. This
will help in increasing the interest from auditors, lenders and analysts. Further, this will impact IT
systems operational functions, taxes and internal controls.

Before beginning let us understand what is lease accounting? Well lessor is someone who rents something he owns and the lessee is someone who pays for that assets periodically and lease is agreement between both of them. Now lessee will pay the lessor periodically and lessee will invest on the asset in order to earn more than the cost of lease thus meeting there respective needs. Accounting by lessee begins with lease aggression and further decision to decide if it is capital lease or operating lease. In case of operating lease no asset and liability is recorded on balance sheet. Lease payments are reported as expenses where as in capital lease both asset along with depreciation expense and liability with interest expense are recorded on the balance sheet of lessee. For lessor leased asset would be recorded on balance sheet in case of operating lessee and will claim depreciation on asset. In case of capital lease and lessor shall recognise asset which is under a finance lease as receivable amount which would be equal to total investment on asset in there balance sheet. In this case the interest will be seen as income and principle repayment will decrease the total investment on asset in their balance sheet. Lease payments are determined by the lessor who will find a fair value of its lease asset which lessee will pay on desired rate.

Minimizing the gap between funds and opportunities imparted to minority owned businesses as compared to others is quite crucial. Besides this, a lot of programs have been launched to let minority owned companies grow. The certificate bearing minority owned businesses get an access over special government programs. These programs include government contracts which will give a push to an otherwise deprived business.

Joyce CPA, LLC is well acknowledged about the difficulties faced in the current economy based on the expertise and experience gained in 20 years. Joyce CPA, LLC truly believes that minority owned businesses can help to keep our economy strong. Our objective always remains to support new and already established businesses and help them grow.

Joyce CPA, LLC understands your desire to have a successful business and is thus available to host you with specialized and qualified skills for your Minority Owned Business. We seek to provide you help with every aspect of your business and provide appropriate guidance required.

Daryl has over 20 years of experience delivering high quality audit services to businesses in healthcare (hospitals & continuing care facilities), distribution, construction, employee benefit plans (pension plans and 401(k) plans), not-for-profit organizations, and banking. Daryl has performed financial audits, operational audits, single audits, and FAR 31 audits (audits under Part 31 of the Federal Acquisitions Regulations).