Technology & Venture Capital
BMSS helps companies in the technology industry including software development, internet design and online training, companies in the biomedical field, and growing businesses backed by venture capital.
Our experience with technology companies allows us to provide knowledge and perspective on issues such as capitalizing software development costs, deferring revenues, recognizing revenue and the respective amortization of revenue into income, bifurcating contracts into their respective revenue elements and reviewing capitalized costs annually for impairment.
BMSS has on staff Certified Information Technology Professionals (CITP). CITP is a credential from the AICPA that attests to a CPA’s understanding of risk assessment, fraud considerations, internal controls and IT general controls, information management and business intelligence.
As businesses grow, financial reporting continues to be increasingly complex. Our CPAs can work with you to provide the accounting, auditing, tax and consulting services related to the unique, complex issues faced at times by emerging entities.
Having worked extensively with venture-backed businesses, we are extremely familiar with all the complexities that come with this environment such as option pricing, complex capital structure and reporting to an external board and a diverse set of equity owners.
BMSS has assisted a variety of emerging companies with growth issues ranging from formation, budgeting & cash flow, access to capital, research & development (R&D) tax credits, mergers & acquisitions, stock options and public offerings.
We are actively involved with the Birmingham Venture Club and the BDO Alliance USA Technology Industry Group. Keith Barfield is a vital asset to the ASCPA IT Task Force and recently launched his new blog, "Barfield on Tech" with compelling, interesting, and straightforward talk to help technology companies sort out the “numbers” part of the business.
Understanding the needs of small business owners, we bring a unique perspective that has been developed through our own experiences in growing our own professional services firm. Here at BMSS, we have successfully launched our own companies including Abacus IT Solutions.
With BMSS, you will discover not all accounting firms are alike. We are passionate about helping you reach your goals and helping you succeed.
BMSS Technology & Venture Capital Group
Keith Barfield has five children - Heather, Mitchell, Sacca, William, and Jillian. He is a founding member at Barfield, Murphy, Shank & Smith and has lead resp... read more
"The people at BMSS are very knowledgeable and seem to really enjoy what they do. Their job satisfaction makes me feel assured the employee turnover will be low. Low employee turnover assures consistent ongoing knowledge of my operation without me spending time, effort and money having to reeducate their employees about my company."