Manufacturing & Distribution :: Barfield, Murphy, Shank and Smith ::

Manufacturing & Distribution

Barfield, Murphy, Shank & Smith (BMSS) has worked extensively clients in the manufacturing and distrubtion industries and together our professionals have over 75 years experience.

Our expertise goes far beyond the accounting and tax services a typical firm might offer. As your business partner, we can help you with bookkeeping, payroll, computer system selection and implementation, compliance reporting, and outsourcing the controller function.

For example, we have developed daily management sheets so that manufacturers can stay on top of financial conditions. We review with our clients their financial statements every month and performed quarterly reviews. Receiving current and correct information and sound advice from BMSS allows you to be more successful, by making correct decisions at the RIGHT time.

We regularly provide educational opportunities through industry related seminars and newsletters and keep you updated on new laws and regulations that affect you.

How does BMSS help manufacturing & distribution clients?

Advised how to better track job costs - changes that often have an immediate impact on the bottom line
Assist with hiring and developing organizational charts to improve efficiency
Cost segregation analysis to allow additional depreciation resulting in tax savings
Develop systems to help better manage cash flow
Inventory counts and inventory analysis to better identify slow-moving items
Review financial statements with clients and perform quarterly reviews
Sales & use tax audits
Succession and continuity planning
Work to reduce costs in areas such as worker’s compensation and insurance

What kind of impact do we have?

We introduced accounting, tax and business changes in one manufacturing client that turned two consecutive $1 million-loss years into a $1 million-profit year.

In another, we developed a plan to reduce scrap that added more than a quarter of a million dollars to the company’s bottom line. We have saved manufacturers thousands in taxes with LIFO calculations.

Our manufacturing client base consists of companies who have in excess of $1.5 billion a year in annual sales to start-up ventures with no revenue.

You want your accounting partner to have solid experience in your industry. We have that experience and are ready to go to work for you now.

BMSS Manufacuting & Distribution Practice Group
Keith Barfield