BMA is a full-service accounting and financial consulting firm that has served the financial needs of individuals and small and mid-sized companies in the Ventura County area since 1981. Along with our wide range of accounting services, what sets BMA apart is our people. Our seasoned professionals take a vested interest in your success. Because BMA is a small firm, we're able to design customized solutions and provide friendly service that reflects the pride we take in our work.
We are committed to providing close, personal attention to our clients. Fundamental to managing your business is an accounting system that accurately records your transactions and produces reliable financial statements. BMA also prepares tax returns for individuals, corporations, partnerships and trusts. Because we use state-of-the-art software and keep up to date on the latest tax laws, you can rest assured that BMA will prepare your returns in an accurate and timely manner.
Additionally, we are especially well-versed in the area of business valuations.
We are committed to providing close, personal attention to our clients. Fundamental to managing your business is an accounting system that accurately records your transactions and produces reliable financial statements. BMA also prepares tax returns for individuals, corporations, partnerships and trusts. Because we use state-of-the-art software and keep up to date on the latest tax laws, you can rest assured that BMA will prepare your returns in an accurate and timely manner.
Additionally, we are especially well-versed in the area of business valuations.
Services
Business owners often need help interpreting their financial statements.
They have questions like, "I see I made a profit, but where did all the cash go?" or "How do my financial results compare with others in my industry?"
Many small businesses use QuickBooks (QB) to keep track of their accounting and financial activity.
BMA has trained QB consultants who can set up the QB programs, help input client activity and make sure the resulting reports make sense.
In short, whatever your QB needs, BMA is here to help.
They have questions like, "I see I made a profit, but where did all the cash go?" or "How do my financial results compare with others in my industry?"
Many small businesses use QuickBooks (QB) to keep track of their accounting and financial activity.
BMA has trained QB consultants who can set up the QB programs, help input client activity and make sure the resulting reports make sense.
In short, whatever your QB needs, BMA is here to help.
The two most senior credentials for business appraisers - and the most difficult to obtain - are Accredited Senior Appraiser (ASA), awarded by the American Society of Appraisers, and Certified Business Appraiser (CBA), awarded by the Institute of Business Appraisers.
Stephen D. McMorrow, the partner in charge of all appraisal work at BMA, holds both credentials as well as being a CPA.
Stephen's combination of credentials is important when defending an appraisal report in court, before the IRS or with your business partners and associates.
Stephen D. McMorrow, the partner in charge of all appraisal work at BMA, holds both credentials as well as being a CPA.
Stephen's combination of credentials is important when defending an appraisal report in court, before the IRS or with your business partners and associates.
At BMA, we perform the following steps to arrive at our conclusion of value for your business or business interest.
Determine the parameters of the engagement, provide a fee estimate, and obtain an engagement agreement.
Evaluate economic and industry conditions affecting the business as of the appraisal date.
Comparison of the financial condition and performance of the business to other businesses in the same or similar industry (ratio analysis).
Determine a value indication using the income approach, market approach and asset approach, assuming each is applicable.
Determine the parameters of the engagement, provide a fee estimate, and obtain an engagement agreement.
Evaluate economic and industry conditions affecting the business as of the appraisal date.
Comparison of the financial condition and performance of the business to other businesses in the same or similar industry (ratio analysis).
Determine a value indication using the income approach, market approach and asset approach, assuming each is applicable.
There is a saying that you can't be sure of anything except for death and taxes.
Unfortunately, sometimes they both come at the same time.
When someone dies with an estate over certain limits, they must file an estate tax return, known as Form 706.
If the deceased owned a business, business interest or interest in an asset-holding company (see below), the Form 706 must include an appraisal report showing the value of those assets.
BMA has prepared many such reports and knows the requirements that must be met to withstand IRS audit.
Unfortunately, sometimes they both come at the same time.
When someone dies with an estate over certain limits, they must file an estate tax return, known as Form 706.
If the deceased owned a business, business interest or interest in an asset-holding company (see below), the Form 706 must include an appraisal report showing the value of those assets.
BMA has prepared many such reports and knows the requirements that must be met to withstand IRS audit.
BMA assists with litigation matters by helping assess the valuation issues of the case.
BMA can also draft questions to ask the opposing expert (or the principals) regarding the valuation issues, review the business valuation report prepared by another expert, or rebut testimony regarding the opinions and comments of opposing experts concerning the value of the business interest.
BMA experts have been trained to perform as credible witnesses in assisting the court to arrive at a fair and equitable resolution of the matter.
BMA can also draft questions to ask the opposing expert (or the principals) regarding the valuation issues, review the business valuation report prepared by another expert, or rebut testimony regarding the opinions and comments of opposing experts concerning the value of the business interest.
BMA experts have been trained to perform as credible witnesses in assisting the court to arrive at a fair and equitable resolution of the matter.
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