Eddie Shamas

AREAS OF EXPERTISE

Mr. Shamas’s practice focuses on the following key areas:

Attestation Services – Examine companies’ financial statements and accompanying disclosures to attest to the credibility of the reported financial position and performance of a business.

Financial Reporting – Assemble financial statements and accompanying disclosures within the guidelines of Generally Accepted Accounting Principles (GAAP).

Internal Controls – Review of an entities internal controls related to financial reporting and advice on implementation of new controls.

Transactional Due Diligence – Evaluate a company’s transactions to determine proper segregation of business lines to facilitate valuation of business purchase.

Tax Preparation and Planning – Preparation of Federal and state returns for partnerships, corporations, trusts, and individuals.

Data Analysis – Extract and analyze data from various perspectives and produce useful summaries to identify relationships within the existing data.

EXPERIENCE

Manufacturing – Provide professional services related to audits and other attest engagements to a variety of middle market firms in manufacturing (apparel, dental products, and healthcare products). Evaluated and reviewed manufacturing overhead schedules to determine if manufacturing costs are being properly capitalized.

Distribution – Provide professional services related to middle market and large firms in distribution (pipes, valves & fittings, apparel, and footwear). Testing and analysis of revenue recognition, asset and liability balances, and implementation of internal controls.

Restaurants – Provide audit services to a chain of casual dining restaurants. Provided technical guidance for accounting of troubled debt forgiveness on look back and going forward basis.

Royalties – Provide audit services to a music rights administration services firm. Developed additional audit procedures to encompass all new streams of royalty revenue stemming from digital music services, streaming television, and wireless media (ringtones, ringbacks, etc).

Bankruptcy – Provide audit and other attest services to a law firm and an asset and debt management firm, which specializes in acquiring and managing chapter 7 and Chapter 13 credit card and consumer loans debt.  Debt management firm maintained over $1 billion in assets held in over 20 funds companies.  Provided attest services to fund companies as well.

Benefit Plans – Provide audit services for full and limited scope audits of defined contribution, defined benefit, and employee stock ownership plans for middle to large market firms and publicly traded companies.

Not-For-Profit – Perform A-133 audits on Compliance over Major Federal Programs and Internal Control over Financial Reporting in accordance with Government Auditing Standards.