Since our formation in 1970, we have grown to be a medium sized Boulder CPA firm, meeting the needs of growing clients and an expanding clientele. Our ability to provide comprehensive accounting services includes advice and representation in the following specialized areas: professional service organizations, construction accounting, governmental entities, tax and financial planning, and computer systems. We are members of the American Institute of Certified Public Accountants, Colorado Society of Certified Public Accountants, and Division for CPA Firms PCPS. We have completed four peer reviews with unqualified opinions.
We view ourselves as problem-solvers for our clients. Our goals are to establish effective working relationships with our clients, to be knowledgeable about their business and financial affairs, and to accomplish financial planning in light of their circumstances and objectives. We emphasize the importance of excellent record keeping and transaction planning in both business and personal transactions.
Although clients may generally establish a primary relationship with one or two CPAs in our firm, the resources of the entire firm are available to address new and varying needs of our clients. When a specific project demands it, the accountants work together as a team. For example, in the audit or review of a client, frequently the accountant in charge of the audit or review will call upon a tax specialist to assist in planning and reviewing the client's overall future long-term plans. By teaming up when the situation requires it, we efficiently combine the different expertise of accountants to provide our clients with high quality accounting services in a timely manner and at a reasonable cost.
The CPA-client relationship requires complete trust and confidence. We keep our clients' affairs confidential and are committed to meeting all our ethical responsibilities. Our clients are regularly informed of the progress on their accounting work by telephone, correspondence, memoranda and copies of the work produced, as appropriate. Clients are encouraged to discuss questions about work being done for them or the relationship with their accountants. Sound business practices help us to be cost efficient, punctual and productive in providing accounting services. We employ and hire the best available personnel, and use state-of-the-art technological support systems. Our staff works together to deliver prompt, economical accounting services to our clients. Our accountants participate in an ambitious continuing accounting education program through internal, local and national educational programs to remain at the forefront of accounting and tax developments affecting our clients. We provide and maintain an up-to-date tax and audit library which we supplement with various specialized materials we purchase directly. We recently installed a computerized on-line tax library which gives us computerized access to all tax updates immediately.
We supply our clients with complimentary summaries and comments regarding major changes in business and tax laws through the AICPA Client Bulletin. We also prepare, on an as needed basis, special newsletters which discuss topical tax law changes and highlight current tax developments for our clients.
FEES AND BILLING
Our fees are based upon the nature of the work, the time required and the responsibility and ability of the accountant involved. Most fees are determined on an hourly basis, as adjusted for factors such as expertise and value of the relevant work being performed.
Our hourly billing rates reflect our estimate of the value of the experience and skill of the individuals performing the work. Hourly rates do not include such items as travel expenses incurred on behalf of a client, computer service charges, postage and other miscellaneous charges in excess of ordinary and necessary office expenses. These expenses are itemized and billed monthly. We routinely discuss the matter of fees and expenses at a client's first meeting in order to ensure a clear understanding regarding a client's entire financial obligation and our obligation for services. At that time, each client is provided and requested to sign an engagement letter setting forth the understanding regarding fees, requirements and responsibilities of the client, and requirements and responsibilities of the accountant.
MAJOR AREAS OF PRACTICE
The following is a summary of the firm's major areas of practice:
Tax Preparation and Planning. The firm's practice includes regular involvement in all aspects of the taxation of business entities and individuals. This includes planning for corporations, partnerships, investments, and year end individual tax planning. Wendell Walker and Zach Barber are primarily responsible for and concentrate their practices in these areas.
Auditing, Review and Compilation Accounting Services. Our auditing and accounting practice includes auditing of commercial, governmental, and not-for-profit organizations. Our primary auditing involves construction companies, service organizations, not-for-profit United Way agencies, and special taxing districts. Our review and compilation services encompass a wide variety of clients. Mhari Peschel and Zach Barber provide these areas of expertise.
Bookkeeping Services. Our bookkeeping services are provided on a somewhat limited basis. In all instances, we require that the client be responsible for the cash receipts, cash disbursements, listings of accounts payable, listings of accounts receivable and estimating the inventory or gross profit percentage on a monthly or quarterly basis. We primarily train client personnel to prepare the necessary payroll and sales tax reports. Pam Preston is responsible for bookkeeping support services.
Personal Financial Planning. Our services include in-depth analysis of our client financial data, preparation of a comprehensive report with suggestions for analysis and design of plans for a client to attain their personal goals. This report includes a current financial profile summary, an analysis of net worth, investment analysis, an analysis of income and expenditures, basic estate planning, retirement planning and tax planning. Wendell Walker and Zachary Barber provide these areas of expertise.
The accountants on our staff are:
WENDELL T. WALKER, CPA
Wendell T. Walker was born in Salina, Kansas. He received a B.A. degree with the accounting option from Kansas State University in 1962 and served in both the U.S. Army and Air Force Reserve until 1964. In 1963, Mr. Walker began practicing accounting as a staff accountant in Wichita, Kansas. The CPA firm was the largest and leading CPA firm in Kansas and later merged with the Big 4 firm currently known as KPMG Peat Marwick.
Mr. Walker has attended many continuing professional educational classes. In the past few years his emphasis primarily has been income tax, tax planning, and financial planning. Mr. Walker holds a certificate as a Certified Valuation Analyst. In addition, he has a Certificate of Education in Personal Financial Planning. Even though the minimum CPE requirement for accountants in Colorado is 40 hours per year, Mr. Walker usually attains 80-100 hours of continuing professional education.
MHARI M. PESCHEL, CPA
Mhari Peschel was born in Montgomery, Alabama. She received a B.S. degree in Business Administration, with an emphasis in accounting, in 1976 from the University of Colorado.
Mrs. Peschel started in public accounting in January 1976 with an international public accounting firm in Denver specializing in auditing and tax work. She has worked for an independent international petroleum exploration company as tax manager, controller and ultimately as the Vice President-Finance. She has also managed personal investments. Since February 1995, she has been responsible for per diem audit work for Wendell Walker & Associates, P.C. In addition, she has attended many Continuing Education classes including: Local Government Auditing, Accounting and Financial Reporting for Not-for-Profit Companies, Accounting and Auditing for Closely Held Corporations, Tax Update for Flow-Through Entities, Tax planning for LLC’s, Partnerships and S Corporations, and Real Estate Tax Planning Strategies.
As of January 1996, Mrs. Peschel became an audit manager for Wendell Walker & Associates, P.C., and is responsible for audits, compilations and reviews.
ZACHARY K. BARBER, CPA
Zach Barber was born in Grand Island, Nebraska. He received a B. S. degree in Business Administration, with an emphasis in accounting, in 1995 from the University of Nebraska, Lincoln.
Mr. Barber started his career in public accounting in December 1995 with a firm in Lincoln, Nebraska. Mr. Barber has worked with clients in the fields of banking, farming, manufacturing and professional services in Lincoln, Nebraska. Mr. Barber has experience in corporate, partnership, fiduciary, estate and individual taxation. He also has done work in the areas of business valuations, eldercare services and small business consulting.
Mr. Barber is a member of the American Institute of Certified Public Accountants and the Colorado Society of CPAs.
As of July 2000, Mr. Barber became tax manager for Wendell Walker & Associates, P.C.
Pam Preston was born in Madison, Minnesota. She attended Moorhead Technical Institute for two years and graduated with a legal assistant degree. She moved to Colorado in 1977. Ms. Preston has over 20 years experience in all aspects of bookkeeping. She joined the firm in October 2004 and is the office manager and provides para-professional support in bookkeeping and individual income tax preparation.