How We Can Assist with Current Restaurants & Hospitality Accounting & Tax Issues
New Lease Accounting Regulations
These new accounting rules could have impact on bank loan covenants as they might change the borrowing base for many loans essential to your operations.
How to prepare: Briggs & Veselka is already working with companies and their banks to advise them on the possible implications of these new accounting regulations to help them prepare possible revisions to existing covenants and as guidance for future loan agreements.
Companies with significant credit card transactions are faced with increasing scrutiny and potential assumption of liabilities for fraud events.
How to prepare: Briggs & Veselka Business Advisory professionals can assist with penetration testing, PCI compliance and data processing risks and controls issues to protect your operations from unneeded costs and reputation risk.
Cost Management for Internal Financial Functions
Supplier billing, month-end closings, and reports for lenders can place burdens on your existing finance and accounting staff and impede the cash flow of your operation.
How to prepare: Briggs & Veselka’s Outsourced Accounting Services gives you budget flexibility and control when you require interim support of full back office accounting functions.
Fraud & Shrinkage
More than 40% of retail shrinkage is caused by employees, either as isolated incidents or larger, more organized schemes.
How to prepare: Our teams of internal auditors and forensic investigators can work with your operations teams to develop preventative methods via process improvement, or in the event of discovery of an organized fraud, conduct forensic accounting to uncover defensible evidence of fraud.