We believe in creating a strong working relationship with our clients to determine their specific accounting and compliance needs.

Manufacturing

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Holbrook & Manter has been serving manufacturing clients for many years, tracing back to our origin in 1919. We maintain a strong reputation with our manufacturing clients, which has been built on the foundation of quality services we have provided over the years.

H&M offers services specific to businesses involved in manufacturing as well as traditional and management advisory services. We have professionals who have extensive experience in working in and serving manufacturing clients. Our services are designed to help you establish sustainable competitive advantages over your competition.

Our committed Manufacturing Team has extensive experience and knowledge to assist you including, but not limited to, the following areas:

  • Audit

    An audit of an entity's financial statements involves performing procedures that results in the issuance of a report that provides the highest level of assurance that the financial statements present fairly in conformity with U.S. generally accepted accounting principles. In an audit, as in a review, the Certified Public Accountant (CPA) must be independent of the client and the financial statements must contain all required footnotes.

    The auditor's goal is to determine whether the financial statements are free of material misstatement. An audit requires extensive inquiry and study of the organization's policies, procedures, systems, operations, and financial management. Items are observed, tested, confirmed, compared, and/or traced based on the auditor's judgment. After gathering sufficient evidential matter through this process, an auditor can issue an opinion about the fairness of the financial statements. As an additional benefit, the auditor may become aware of inefficiencies or weaknesses in the entity's systems and offer suggestions for improvement.

  • Review

    A review is conducted when a lower degree of assurance than an audit is required, yet the user wants to know that a professional has performed analysis of the statements. With respect to reliability and assurance, a review falls between an audit, which provides extensive assurance, and a compilation, which provides no assurance.

    During a review, the CPA will inquire about the entity, the accounting policies and procedures, the industry, operations and personnel. The CPA will also ask about any changes in these items and request other pertinent information. In addition, the CPA will conduct a battery of analytical procedures, such as ratio analysis, comparison of the operating statistics to prior periods or perhaps to industry averages, as well as other financial analyses deemed appropriate. In a review, like an audit, the CPA must be independent of the client and the financial statements must contain all required footnotes.

  • Compilation

    A compilation service is required for an entity that needs assistance in preparing their financial statements. A compilation involves gaining a general understanding of the entity, its bookkeeping systems, and presenting the financial information in the accepted format of proper financial statements. Through compilation services, a CPA prepares monthly, quarterly, or annual financial statements.

    During a compilation, the data is arranged into conventional financial statement presentation. No probing is conducted beneath the surface unless the CPA becomes aware that the data provided is inadequate or incomplete. The report attached to the financial statement emphasizes that the service is a compilation.

  • Agreed-upon Procedures

    An agreed-upon procedures project is one in which H&M is engaged to issue a report of findings based on specific procedures performed on the subject matter. The client engages H&M to assist the specified parties in evaluating subject matter and/or an assertion due to a need(s) of the specified parties. Consequently, H&M’s role is to perform specified procedures and then report on these findings.

    Because the needs of the specified parties may vary widely, the nature, timing, and extent of the agreed-upon procedures may vary as well; consequently, the specified parties assume responsibility for the sufficiency of the procedures since they best understand their own needs. H&M does not perform an examination or a review and does not provide an opinion or negative assurance. Instead, H&M's agreed upon procedures report presents the procedures performed and the resulting facts and findings.

  • Outsourcing Service Solutions
    • Accounting Services

      H&M services provide single accounting functions all the way up to full accounting outsource solutions to address companies precise accounting needs. These services can include, but are not limited to, the following items: entering and paying bills, invoicing, preparing monthly statements, reconciling bank and credit card accounts, accounts receivable collections, depositing funds and other similar functions.

    • Closing the Books

      Accounting entries are necessary at the end of each completed accounting period (e.g. month, quarter and/or year) to assure that the books are in balance and that the company's books are ready to move forward into the next month. These entries are required in the preparation of periodic financial statements and other management reports.

    • Payroll

      H&M provides fully customized outsourced payroll service solutions. For most of our clients we take care of their specific and unique needs by preparing the payroll each pay period, making all the required tax deposits and filing all of the appropriate payroll returns as well as the year end W-2's and annual required reconciliations.

    • Management Reporting

      We provide management reporting in order to meet the precise needs and expectations of the users. In order to manage any business properly, the key items must be measured and monitored. We work with management to identify and determine the most efficient means to the critical success factors.

    • Benchmarking and KPI development, monitoring and measurements

      We provide industry benchmarking information to see how businesses align and measure against their industry peers. Benchmarking provides insights as to where a continuously improving business should be focusing its initiatives and efforts. KPIs (Key Performance Indicators) help a business define, monitor and then measure progress toward the company’s stated goals and objectives. Our KPI outputs are prepared in a graphical format, which is easy to read and comprehend.

    • Controller and Chief Financial Officer (CFO) assistance

      We provide Controller and CFO level assistance and services. Most often these situations entail special assistance and oversight, specific project endeavors, coaching and mentoring, temporary or short term solution fulfillments, and related type services.

  • Tax Services
    • Tax Planning

      Keeping up with new regulations, IRS rulings, and court decisions is nearly impossible for the average taxpayer. Devising strategies that can best take advantage of these tax law changes requires the expertise of a tax professional. The complex process of planning and addressing taxes requires sophisticated assistance, technical knowledge, and the experience of a CPA who specializes in tax planning.

    • Tax Consulting

      The H&M Tax Team provides only top-notch tax strategies and proactive advice. We also provide estate and retirement planning, representation before the IRS, cost segregation considerations, research and development considerations, 1031 Exchange considerations and much more. Allowing our H&M Tax Team to review and assess the entity’s tax situation will undoubtedly minimize the entity’s tax burden.

    • Tax Compliance

      The H&M Tax Team has the expertise, depth and experiences to meet all tax compliance needs. We are fully versed in the tax code and stay current with all the multitude of changes that benefit our clients. We specialize in entity level (and the owner’s personal level) tax services that optimize and fully address an entity’s tax compliance needs.

    • Tax Strategies

      The H&M Tax Team has the expertise, depth and experiences to meet the tax strategies that are available for the benefit of manufactures, such as (but not limited to): Domestic Production Activity Deduction (“DPAD”), Energy Efficient Commercial Building Deduction, IC-DISC, R&D Tax Credits, Cost Segregation Strategies and many more.

    • State and Local Tax (SALT) Services

      Given the current economic times, states have a very strong appetite to collect all due tax dollars. Companies should be proactive when analyzing and determining their risk within each state and local jurisdiction where it does business. H&M can assist your company with determining the jurisdictions in which your company may have filing obligations (nexus) and the liability associated with such obligations as your business continues to grow. We not only have the expertise in state and local income tax, but also in multi-state sale, use, property, as well as other state and local taxes. We can guide and assist you from the nexus determination process to compliance and through a state or local audit process.. We can also assist in the full service of righting prior missed filings by approaching state and local jurisdictions on your behalf to enter into a Voluntary Disclosure Agreement. This will allow you to get up to date on past missed filings and allow you to avoid potentially high penalties. We aim to reduce your risk and assist in implementing strategies to best reduce your overall state and local tax exposure.

    • FASB Interpretation No. 48 (FIN 48/ASC 740-10)

      Due to the constantly evolving tax laws and regulations, companies are forced to understand (and account for) all uncertain tax positions. At H&M, we have experts who can perform an in-depth analysis of your comprehensive tax risk to determine and help mitigate uncertain tax risks. We can assist and advise clients on the FIN 48 rules, address the identification, recognition and measurement of such positions, and expand the disclosures necessary for inclusion in the company’s financial statements.

    • International Tax

      The reporting requirements for taxpayers with international investments, businesses and/or assets can be confusing and non-compliance can be extremely costly. This increasingly complex area has also been receiving more intense IRS scrutiny in recent years. We can guide and assist you to help keep you compliant as well as to take advantage of any available foreign exemptions and credits.

  • Other Value Added Services
    • Succession and Retirement Planning

      It is inevitable that management and/or ownership will change due to succession or retirement situations within a business. H&M knows the tough questions to ask, how to expeditiously obtain key answers in order to define the critical path, identify the key needs of the entity, assess the potential options, track the progress according to plan, and measure success against performance.

    • Business Planning and Consulting

      The strategic and business planning process begins by implementing and developing specific action plans. In doing so, the entity will continuously build upon and improve the framework for running a successful and prospering enterprise. The goal is to develop a competitive strategy and corresponding business plan. Our strategic and business planning services vary according to each client's unique and specific needs. We believe that in business, failing to plan is planning to fail.

    • Mergers & Acquisitions (M&A)

      H&M’s M&A Team is uniquely qualified to help and assist management or a business owner on either the buying or selling side of a transaction. H&M routinely assists many entities (and is consistently sought after and referred to by others) to successfully navigate the hidden unknowns and inevitable pitfalls that generally transpire during most deals and transactions.

    • Business Valuation

      Businesses and their owners require independent value assessments for many reasons. Our H&M Valuation Team has assisted many hundreds of privately held enterprises with their independent valuation needs. Many of the country's most prestigious law, accounting, and financial planning firms have entrusted our professionals to provide valuation services for their clients. As recognized industry leaders, H&M valuation professionals are highly qualified, having earned advanced business degrees and multiple professional designations related to valuation, finance, and accounting.

    • Financial Planning and Investment Advisory

      H&M in conjunction with our planning partner Pinnacle Wealth Planning Services, Inc. exclusively offers a very personalized comprehensive wealth planning solution in which a client’s goals are discussed, reviewed and evaluated. After analyzing client’s financial needs, we present them with individually tailored plans designed to achieve established goals and objectives. After acceptance, these plans are closely monitored throughout the implementation process. In addition, we have a variety of planning levels available to meet our client’s needs. These services include such items as estate planning, retirement planning, 401K planning, college planning, and related type services.

    • Economic development grants/incentives

      The H&M Manufacturing team can provide strategies designed to help companies alleviate their start up and operational costs on both a tax and non-tax basis. All fifty states rely on incentive programs to entice businesses. These incentives are categorized as capital grants, training grants, tax credits, tax abatements, and low interest loans or cash refunds. We will assist companies with establishing, relocating or expanding their operations, while affecting the company’s bottom-line when they are realizable and recognizable.

    • International Financial Reporting Standards (IFRS)

      The intention of converging U.S. GAAP with IFRS is to bring clarity and comparability to global financial reporting. As with any significant change, this will initially bring much confusion and uncertainty to the financial reporting functions within organizations. The convergence with IFRS is expected to potentially affect a given enterprise in many different departments other than the core accounting department: human resources, IT staff, management, and others are all significantly affected by the IFRS convergence. We understand these challenges and we will assist to garner the full benefits of the IFRS convergence.

    • SWOT Analysis

      A thorough review of a company’s internal and external environment is an important exercise and a best business practice of the overall strategic planning process. The factors internal to the company can be classified as either Strengths (S) or Weaknesses (W), while those items that are external to the company can be classified as Opportunities (O) or Threats (T). Hence, the overall analysis of the strategic environment is consequently called a “SWOT Analysis”. The SWOT provides information that is very beneficial in matching the company’s resources and capabilities to the unique competitive environment of the company’s ecosystem. Hence, the SWOT is instrumental for overall company strategy formation and helps create a map to future prosperity.

    • Internal Controls

      Internal controls can be defined as a process, affected by the Board of Directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

      1. Effectiveness and efficiency of operations
      2. Reliability of financial reporting, and
      3. Compliance with laws and regulations


      Companies develop their internal controls to mitigate the risk of fraud, failure to comply with regulations, and risk of misstatements within their financial statements. Holbrook & Manter can help Companies identify key risk areas within their organizations and assist and develop controls, policies and procedures to mitigate the risk in those areas.

View a Benchmarking Sample (PDF file).