NONTRADITIONAL SERVICES

The accounting and auditing profession in the US is guided by standards established by the AICPA. The AICPA issues pronouncements that address auditing, reviews, and compilations. These are based on historical financial information and generally accepted accounting principles.

Schlenner Wenner & Co. provides a number of services under the attestation standards. These services typically address the need for assurance that certain events or activities are being conducted by an entity in accordance with relevant guidelines. Departments of the state government require these assurance services to obtain assurance that an organization is performing under the terms of contracts they have with the state. Creditors and financial institutions require these services to obtain assurance contract terms are being met.

An agreed upon procedures engagement is one in which we are engaged by our client to issue a report of findings based on specific procedures performed on subject matter. Our client engages us to assist specified parties in evaluating subject matter or an assertion as a result of a need or needs of the specified parties. Because the specified parties require that findings be independently derived, our services are obtained to perform procedures and report our findings. We and the specified parties agree upon the procedures to be performed that the specified parties believe are appropriate. Because the needs of the specified parties may vary widely, the nature, timing, and extent of the agreed upon procedures may vary widely as well; consequently, the specified parties assume responsibility for the sufficiency of the procedures since they best understand their own needs. Our report is issued on the agreed upon procedures performed and our findings related to those procedures. An agreed upon procedures report is restricted to the specified parties.

Agreed upon procedures can be completed on any type of entity.

Documenting and following proper internal controls can be a time consuming and difficult process. Schlenner Wenner & Co. has staff that can assist you in adopting internal control policies that fit you and help protect you from possible fraud. We can also help you document these policies to allow new employees to jump into a new system and know the policies that they need to follow. When internal control policies are in place, we can come to your place of business and test those policies to make sure they are functioning properly. 

Internal control services include:

• Consulting on policies
• Documentation of policies
• Agreed Upon Procedures
• SOC 1
• Internal Control Walkthroughs

When was the last time you checked to see how the stock market was doing? Yesterday, this morning or just a minute ago? Everyone is interested in how their investments are performing, especially in today's market.

Schlenner Wenner & Co can provide a business valuation based on sound judgment and solid experience. Whatever the reason you need business valuation services, we have the knowledge and expertise to help.

Our valuation consultants use a comprehensive approach to the valuation process.  We perform an in-depth analysis using relevant market data and apply state-of-the-art valuation techniques to prepare an accurate and defensible valuation analysis.  As a result, we provide defensible valuations that are in compliance with legal and professional standards.

We perform independent valuations for many business reasons, including, but not limited to:

Litigation Purposes

• Bankruptcy / Insolvency
• Improper Transfer of Intellectual Property
• Fraudulent Conveyance
• Shareholder Disputes
• Marital Dissolutions
• Economic Damages
• Intellectual Property Infringement

Financial Accounting Purposes

• Purchase Price Allocation
• Goodwill Impairment
• Option Pricing

Tax Purposes

• Employee Stock Ownership
• Estate Taxes / Planning
• Gift Taxes / Planning
• Charitable Contributions
• Compensation with Stock
• S – Corporation Elections
• IRS Challenges
• Intangible Asset Deductions / Losses 

Strategic Management Purposes

• Mergers and Acquisitions
• Pre-acquisition Due Diligence
• Divestitures
• Intellectual Property Management
• Purchase / Sale of Selected Intangible Assets
• Buy / Sell Agreements
• Value-Based Planning
• Fairness Opinions

If you have constructed, bought, expanded or remodeled real estate, we can help you increase your cash flow by reducing your current taxable income. A cost segregation study is a strategic analysis that allows companies to accelerate their depreciation-related tax deductions. Generally, real estate loses its value over either 27 or 39 years; however, equipment and land improvements are depreciated over 5 to 15 years, meaning you can receive tax deductions sooner. A cost segregation study identifies equipment and equipment-related costs and land improvements that are depreciated over this shorter time period. You can enjoy tax deductions right now that you would otherwise have to wait years to receive.

In addition to new construction, cost segregation studies can be performed on existing facilities. The IRS allows taxpayers to catch up any depreciation deductions reclassified to a shorter depreciation life. In the past the adjustment had to be distributed over four years; now, it can be expensed entirely in the year of the change. This will allow you to increase the net value of current tax savings immediately. This boost in cash flow will help you facilitate your business plans.

Schlenner Wenner & Co. performs cost segregation studies for all types of industries, from apartment buildings and hotels to manufacturing facilities. Our sole focus is on maximizing the legitimate benefits available to you. Our income tax expertise ensures that you will maximize your cash flow while minimizing the income tax burden on the cost of your new building.