More Than Just Compliance.
Financial Reporting, Assurance and Valuation Expertise
About Us
D. Brooks and Associates CPAs draws from over 50 years of experience providing audit, valuation and consulting services to public and private entities ranging in size from start-up organizations to large corporations in a wide array of industries. The Firm’s philosophy is to provide clients National-level technical expertise through hands on relationships that emphasize understanding client issues, addressing them with appropriate urgency, and maintaining effective communications so as to maximize value delivered as a result of these relationships.
Our Services
Business Advisory Services
You can leverage our Firm's 50+ years of experience assisting companies in various stages including, start-up organizations, high growth phases, and exit. Our Firm is uniquely skilled with expertise in operational processes, external financial reporting, valuation, tax compliance, and buy/sell.
Business Startup and Compliance - Starting a business involves numerous decisions and compliance requirements.
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Entity Type Selection: Advising on the best type of entity for your business goals.
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Federal and State Compliance: Ensuring your business meets all necessary regulatory requirements from the outset.
Financial Reporting and Capital Readiness - A solid financial foundation is essential for growth and attracting investment.
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Financial Reporting Systems: Setting up efficient and accurate accounting systems tailored to your business needs.
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Capital Preparation: Preparing your company to raise external capital, ensuring you are audit-ready and have chosen the right professionals, including lawyers and auditors.
Comprehensive Business Valuation and Value Drivers - Understanding the true value of your business is crucial at every stage of its growth.
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Business Valuation: Accurately assessing the worth of your business.
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Value Drivers: Identifying and leveraging the key factors that drive business value.
Strategic Ownership and Estate Planning - Preserving and growing owner value requires careful planning and strategic decisions.
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Ownership Structure: Crafting the best ownership framework to promote growth and protect owner value.
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Estate Planning: Considering estate planning implications to ensure the long-term preservation of wealth.
Valuation Services
The preparation of financial statements in compliance with US GAAP often requires measurement of elements of the financial statements at fair value. Valuation services are also often needed for tax reporting purposes, or as advisory services in support of anticipated transactions. We provide customized valuation services including the following:
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Valuation of stock options, warrants and other equity instruments.
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Valuation of equity and liability components of hybrid instruments.
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Valuation of derivatives using Monte Carlo simulations.
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Impairment analysis and measurement
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Valuation of acquired intangible assets and liabilities in a business combination
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Purchase or sale of all or a portion of a business .
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Estate planning purposes .
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Buy/Sell Agreements .
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Tax reporting purposes
Financial Reporting Services
The Firm's professionals are experts in US GAAP, including expertise in valuation, with combined experience of more than 50 years. Services provided can range from advising on individual transactions to preparation of full disclosure financial statements. We specialize in providing services to related to US GAAP financial reporting requirements. Examples of services provided are as follows:
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Preparation of full disclosure financial statements for presentation to external auditors, boards of directors, or other users.
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Accounting and valuation for equity-based compensation (stock options) and complex financing transactions (convertible debt, warrants, preferred stock, etc.).
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Derivatives valuation.
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Accounting and valuation for business combinations, including reverse mergers.
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The highest level of expertise and research experience to address any complex financial reporting issues.
Assurance Services
D. Brooks and Associates CPAs performs audits and reviews under AICPA standards for privately held entities ranging from start-up enterprises to large corporations. We can provide external use financial statements at three levels of assurance as follows:
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Compilation - we prepare financial statements using information provided by you without verification. We are still required to gain an understanding of your business to allow for an appropriate assessment of relevant accounting and reporting matters. Compiled financial statements are often requested by state or local regulatory entities that request the use of an outside CPA, but not level of assurance.
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Reviewed Financial Statements - we provided limited assurance, referred to as "negative assurance". That is, in performing our review procedures, which involve primarily applying analytical review, inquiries of management, and review of key agreements, we did not become aware of circumstances that would cause the financial statements to be materially misstated. Periodic reviewed financial statements are often a requirement in small business loan agreements.
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Audited Finacial Statements - we would perform more substantive testing of transactions, and verify significant transactions and balance through appropriate audit evidence, and ultimately issue opinion that the financial statements are free of material misstatement. Periodic audited financial statements are often required by investors and lenders.
Custody Rule Examinations
On December 30, 2009, the Securities and Exchange Commission adopted amendments to the custody and recordkeeping rules under the Investment Advisers Act of 1940. The amendments are designed to provide additional safeguards under the Advisers Act when a registered adviser has custody of client funds or securities and require such an adviser, among other things to undergo an annual surprise examination by an independent public accountant to verify client assets.
We offer Custody Rule Examination services to registered advisor that maintain client assets in independent custodian accounts (i.e., a custodian that is not the adviser itself or a related person). These examinations are performed under the standards of the AICPA.
If a registered advisor maintains client assets with a related party custodian (i.e., a custodian that is the adviser itself or a related person), it must obtain or receive a report of the internal controls relating to the custody of those assets from an independent public accountant that is registered with the Public Company Accounting Oversight Board (PCAOB). D. Brooks and Associates CPAs is not registered with the PCAOB and does not offer Custody Rule Examinations for registered advisors that do not maintain client assets in independent custodian accounts.
Transactional Services
D. Brooks and Associates CPAs is an industry leader in providing transactional services. We routinely provide services related to the following transactions that are common among our clients:
Financing Transactions
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The Firm specializes in valuation and accounting for all types of financing transactions, including convertible debt, preferred stock, warrants, valuation and accounting for embedded derivatives, leases (right-to-use), and any other type of financing arrangement. We assess each transaction for appropriate treatment under US GAAP and provide documentation and citations to facilitate management understanding and auditor attestation.
Mergers and Acquisitions
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Due Diligence - we can assist companies in reviewing targets, assessing strengths and weaknesses against industry norms and evaluating expected synergies. We can also perform agreed upon audit procedures relating to key elements of an acquisition.
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Valuation Services - we can perform purchase price allocations for financial reporting and income tax purposes, with extensive expertise in valuing intangible assets.
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Valuation Services - we can assist buyers and sellers develop pricing strategies.
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Post Transaction Assistance - we can assist management in monitoring and negotiating post closing adjustments such as earn-outs or working capital true-ups.
Equity-based Transactions
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We develop customized Monte Carlo simulations to calculate the value of derivatives embedded in financial instruments such as convertible debt and preferred stock, as well as market vesting stock options.
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We often utilize the Option Pricing Method for performing various allocations between different classes of equity holders.
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We are experts at valuing, accounting for, and preparing required disclosures for employee and non-employee stock compensation, including stock options, stock grants, restricted stock, phantom plans, and any other type of arrangement.
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We often use several techniques and methods, which are customized on a transaction basis and designed to factor in all relevant terms.
We have a long history of dealing with highly complex transactions.
Contact Us
4440 PGA Boulevard, Suite 600
Palm Beach Gardens, FL 33410
Main Office: (561) 429-6225
Fax : (561) 282-3444