Our interest in your company goes far beyond handling your accounting, auditing and tax needs - Barfield, Murphy, Shank & Smith is proud to offer business and financial consulting services.
Because we work with clients who usually don’t have a covey of in-house accountants or lawyers, we become more involved with operational and business issues. In other words, we provide the services you would expect from a firm that is greatly interested in your total success.
Here is where BMSS greatly differs from other accounting firms. We are fully prepared to assist your company with:
- Assisting corporate financing
- Benchmarking and analytical review
- Budgeting and forecasting
- Business health checkup
- Business succession planning
- Buying/selling a business
- Cash-flow analysis and control
- Contract controller
- Hiring employees
- Internal control issues and structure reviews
- Mergers and acquisitions
- Pricing strategies
- Structure of equipment debt and working capital financing
- Turnaround services
- Workman’s compensation cost control
BMSS has significant experience advising its clients regarding acquisitions and dispositions of business entities, units and operations. This experience includes consulting regarding:
- the implications of asset versus stock (entity ownership units) transactions for entities taxed as C corporations (consolidated and non-consolidated), S corporations and partnerships,
- the possible advantages / disadvantages of different structural approaches, and
- the availability of, and planning for, tax-advantaged provisions of the Internal Revenue Code.
BMSS has also guided its clients through the compliance requirements often encountered in these transactions, including:
- the proper determination of the amount, timing and character of any gain or loss for the business and/or its owners from the transaction, and
- the filing of any applicable elections, disclosure statements, or IRS forms not typically required in the annual returns for a business and/or its owners.
BMSS Business Consulting Professionals
John Shank and his wife, Eva, have three children - Jeremy, Sarah, and Kathleen. He is a 1985 graduate of Huntingdon College, where he graduated with honors. He is a mem... read more
“Barfield, Murphy, Shank & Smith knows our business and is one of the few firms that understands the way construction accounting is done. We’re proud to be charter clients.”