Accounting Services | The Mobile Accountant

Big picture, Accounting can be divided into two aspects:  Financial Accounting, the centerpiece of which is Compliance and Managerial Accounting.  Regarding compliance, whether your accountant is preparing financial statements or tax forms, there are certain principles, laws, rules or regulations that need to be followed to ensure that the statements or forms reflect the proper accounting treatment.  Some common examples include revenue recognition for accrual-basis businesses, inventory cost flow assumptions (average cost, LIFO, FIFO) or the deductibility of certain expenses for tax purposes vs. expenses that are classified on a Profit & Loss Statement-there are differences.  Being an Accountant means more than just knowing QuickBooks techniques.  Your Accountant should know the proper principles to apply to ensure that your statements reflect Generally Accepted Accounting Principles or GAAP.  I beat the details because I respect the value of good accounting.

What Is Compliance?

  • Adhering to laws, regulations and accepted principles
  • Maintaining business standards and proper protocols
  • Regulatory oversight
  • Codes of conduct
Accounting can be divided into two distinct areas: Financial Accounting involving Compliance and Managerial Accounting-data that Owners/Operators/Managers and Partners need to make informed, intelligent decisions. Which do you need?
Accounting Services
TMA is able to provide expertise in several areas of your business in addition to Accounting and Bookkeeping. We can claim this, because we’ve lived it. We want to gain your trust so we can become your full-service Advisor.
Advisory Services
Bookkeeping is the process of inputting, classifying, error correction and maintaining accounting records. Understated or overstated accounts? QuickBooks Workflow issues? Problems, large or small, simple or complex, TMA can help.
Small businesses will need further clarification on certain aspects of the Tax Cuts and Jobs Act (TCJA) and Accountants and Tax Attorneys will be busy providing guidance for many years to come. Contact TMA for more information regarding tax services.
Tax Services

Request a Consultation:

The Mobile Accountant

Mike Faremouth, Owner/Principal
Woodhaven, MI.