SD Associates P.C. Raises Close to $50k for Local Charities in Annual Golf Event

(from left to right) – Michael McCloskey, Anthony Anella, Howard Drossner, Louis Bencardino

Elkins Park, PA, July 27, 2022 – SD Associates P.C., a CPA and business advisory firm located in Elkins Park, PA, recently held their annual charity golf event, which successfully raised close to
$50k for local charities. The event, held at Commonwealth National Golf Club in Horsham, PA on July 11th, had 108 players in attendance.

The funds raised from the event were distributed to local charities through SD Associates’ non-profit foundation, The SD Charitable Foundation. This year the foundation honored the retirement of the firm’s longtime partner Michael Brenner by donating a portion of the proceeds to Michael’s favorite charities. The charities that benefited from this year’s event included the Breathing Room Foundation, which assists families who are affected by cancer; the Scott Cohen Foundation, which provides scholarships to students; Girls on the Run, an organization that works to inspire and mentor girls; and The VinVu Foundation, which supports charitable giving and philanthropic activities.

(from left to right) – Diane Burtunek, Rose Zantek, Irene Waitzman, Trish McGarry

“We are delighted that so many of our clients, staff, and friends were able to make it out this year to the event,” said Howard A. Drossner, CPA, Co-Founder of SD Associates. “It not only is a fun day out, but knowing we are able to positively touch so many lives by hosting this event annually is an extremely rewarding experience for all involved.”

To date, The SD Charitable Foundation has raised almost $250,000 for local charities. If you would like to be a part of next year’s charity golf event, either as a participant or as a sponsor,
please call 215-517-5600.

About SD Associates P.C.

(from left to right) – Dustin Mott, Neil Model, Charles Herring, Jay Roseman

SD Associates P.C., organized in 1983, is a full-service CPA and business advisory firm located in metropolitan Philadelphia servicing clients throughout the Tri-State area. Our firm’s philosophy has been, and continues to be, to consistently provide the highest quality of personalized service to our clients. SD Associates’ diversified clientele ranges from start-ups to fully matured companies, including manufacturing, wholesale distribution, retailing, financial services, professional services, real estate development, restaurants, and various non-profit businesses and organizations. Our six shareholders have over 140 years of combined experience, which includes a staff of CPAs with advanced degrees, including Masters in Taxation.

For more information about SD Associates P.C., visit us on the web at https://sdaccounting.com.

 

 

 

The Key Benefits of An Internal Audit for Your Small Business

Key Benefits of an Audit for a Small Business
Photo credit: Shutterstock

As a small business owner, you’re tasked with making critical financial decisions and monitoring the productivity of your employees on a daily basis. In the same sense, you may take on the responsibility of overseeing accounting systems, invoicing, or tax planning. As an owner of a business, you may hear the word “audit” and immediately think of the negative connotations that surround it.  

 

The reality is, however, internal audits can be actually incredibly beneficial for your small business. A small business internal audit can help your company discover crucial information about your accounting systems, find technical errors in your business processes, and assist you in modifying your future tax planning. If you’re a small business owner in Southeastern Pennsylvania and are looking for “reputable accounting services near me”, look no further than SD Associates. Below, we’ve listed three major positives in enlisting professionals for a small business internal audit.  

 

Identify Accounting Weaknesses: 

An audit, by definition, is an inspection. Perhaps a major reason that businesses owners fear internal inspections is that they are designed to reveal fundamental flaws within their business operations. Business owners should actually welcome and encourage these internal reviews, as they provide limitless opportunities to improve practices before it’s potentially too late. Receiving pertinent information, updates, and projections regarding key financial areas like gross margins, cash flow, cost analysis and taxes, and more can help you in your business plans and execute more efficiently in a multitude of areas.  

 

When it comes to tax planning, internal reviewing simplifies the filing process and also helps you identify available benefits that you didn’t know existed. Additionally, hiring an independent organization to analyze your small business eliminates any bias that you or one of your internal employees may have.  

 

Strengthen Credibility and Reputation:  

Creating credible financial records is crucial in your small business. An Audits of the financial statements provides greater comfort to potential partners or bankers that all of your financials are in accordance with generally accepted accounting principles. When the time inevitably arrives to start considering succession plans or sale preparation, consistent financial audits provide you as the business owner with more time to correct systematic issues that might be uncovered by potential buyers. This way, any glaring weaknesses within your accounting systems or financial management processes can be improved upon well before your business goes to market.  

 

Test Controls, Detect Fraud:  

Are your business controls (or daily procedures) susceptible to misstatements, errors, or even fraud? Small business internal audits not only work to determine if your controls are able to detect these operational risks, but also if they’re able to prevent them from happening in the first place. Professional auditors will strategize tangible options to overcome these risk areas and increase the security of flawed operations. In the event of internal fraud, an internal audit can identify where fraud is occurring, the extent of the fraud, and how to quickly eliminate it.  

 

Schedule a Small Business Audit Today  

With so much on the line, you need to be absolutely positive that your small business audit is performed by certified public accountant. The expert team at SD Associates has nearly four decades of experience performing concise attestation engagement or agreed upon procedures, providing detailed financial analysis, and facilitating necessary discussions for positive changes for small businesses. If your business is eager to improve daily operations and plan for a better future, schedule an appointment with SD Associates today!