Accounting Methods: Private Companies Have Options
Different companies have different financial reporting needs. Is your current accounting method a good fit, or is it time for a change?
Disruptive innovation creates new product and service opportunities for technology and bioscience companies. This opportunity is heavily influenced by a timeline to market, patent applications, regulations, and consumer acceptance.
The balance between value and costs to prove and defend disruptive innovation is critical at all stages of development. To remain focused on what you do best, you need proactive solutions from collaborative and accessible business partners.
Lumsden McCormick works closely with technology and bioscience companies to develop strategic plans aimed at achieving strategic objectives. We will keep you updated on existing and emerging regulations that may impact your business. From startups to well-established businesses, our professionals provide innovative solutions to regional and global businesses.
In addition to cash flow and tax planning, we have a network of funding sources, including angel investors, venture capital firms, and private equity firms. We will also help you take advantage of incentive programs for which your business qualifies. As a proud member of the BDO Alliance USA, we have access to professional resources with expertise specific to your industry.
Our technology and bioscience services include:
For more information about accounting services for technology and bioscience companies, contact Cory Van Deusen or complete the form below.
The executive branch is looking to increase revenue for the IRS. Translation: expect to see an increase in the number of IRS audits being performed, including industries not traditionally targeted.Learn More
The accounting for leases is changing significantly. The required implementation of FASB ASC 842 will mandate that most leases are included on the balance sheet as a right-of-use asset, with a corresponding lease liability. The new standard will impact nearly all commercial businesses and nonprofit organizations and is effective for annual reporting periods beginning after December 15, 2021.Learn More