Business Advisory and Consulting

Our Whole Firm Is Working on Your Next Move

At Larson & Company, consulting grows out of knowing your business deeply. Your audit team has spent years inside your industry, and your tax advisors have mapped your entity structure through multiple cycles. That history lets them spot opportunities alongside the compliance gaps.

Our consulting services draw on the full depth of the firm across audit, tax, accounting, and advisory. We help you move forward with clarity whether you're navigating a transaction, evaluating your internal controls, planning an ownership transition, or looking for tax savings you didn't know existed.

Buying, selling, or merging a business

On the buy side, we perform financial due diligence and quality of earnings analysis, set working capital targets, and identify the adjustments that should affect price. We look closely at customer concentration, deferred maintenance, one-time items presented as recurring, and owner compensation. On the sell side, we prepare your financials, document add-backs, and get you ready for a buyer's diligence. Sellers who prepare early negotiate from a stronger position and close faster. We coordinate with your legal counsel on asset versus stock structure, which often moves more value than the headline price. After closing, we handle purchase price allocation, the opening balance sheet, and integration of the accounting functions.

Responding to an audit finding or regulatory exam

We design and evaluate internal control frameworks, remediate audit findings and material weaknesses, and prepare organizations for regulatory examinations. Insurance companies facing a department of insurance exam and governments or nonprofits with a single audit finding make up much of this work. For clients we audit, independence rules limit us to evaluation and advice, and we explain that boundary before the engagement begins.

Forensic accounting when something appears to be wrong

Our forensic accounting team investigates suspected employee theft, financial statement manipulation, and misappropriation of assets for Utah businesses, nonprofits, and government entities, as well as organizations nationwide. We also support litigation with economic damages analysis and expert testimony, and our team includes Certified Fraud Examiners. If you suspect a problem, involve legal counsel early. Hold off on confronting anyone until the work is done, because evidence disappears quickly. Proactive fraud risk assessments cost far less than an investigation, and we perform those too.

Implementing a new accounting standard

Revenue recognition under ASC 606, lease accounting under ASC 842, credit losses under CECL, business combinations, goodwill impairment, complex equity instruments, and nonprofit areas including in-kind contribution valuation and net asset classification. These engagements are usually short. You implement a standard once, and we deliver the memo and supporting schedules so your team has what it needs going forward.

Planning an ownership transition

For owners three to ten years from a transition. We establish a valuation baseline and measure the gap between today's value and the number you need. From there, we evaluate ownership structure, buy-sell agreement funding, and family transfer versus third-party sale, along with the tax consequences of each path. Most value-building moves take several years, so the earlier we start, the more options you keep.

Growing faster than your financial systems

Our Growth Advisory team builds forecasts, KPI reporting, and profitability analysis for companies that have outgrown intuition but don't yet have a CFO.

What is the difference between accounting services and consulting services at a CPA firm?

Accounting services record, organize, and report your financial activity, including bookkeeping, financial statement preparation, and compliance. Consulting services put that financial information to work, helping you make better business decisions. Accounting shows you where you've been, and consulting helps you decide where to go next and how to get there efficiently.

When does a CPA firm provide consulting instead of just filing tax returns or completing an audit?

A CPA firm provides consulting when a client needs strategic guidance beyond the scope of a compliance engagement. Examples include evaluating a business acquisition, restructuring an entity, improving internal controls, or planning for a major financial event. At Larson & Company, consulting often begins where the audit or tax return ends, once we know your business well enough to see opportunities and risks a one-time filing can't address.

What types of businesses benefit most from CPA consulting services?

Businesses at inflection points benefit most: companies navigating growth, ownership transitions, acquisitions, international expansion, or significant changes in their tax or regulatory environment. Organizations of any size also benefit when they need expertise they don't have in-house, a second opinion on a major decision, or a firm that can coordinate specialized services they couldn't otherwise access.

What is an internal audit, and does my company need one?

An internal audit is an independent evaluation of your organization's internal controls, processes, and financial reporting to identify risks, inefficiencies, and areas for improvement. You may need one if a lender, regulator, or board requires it, or if your growth has outpaced your internal financial oversight. Many mid-sized companies use a co-sourced arrangement, where an outside firm like Larson & Company supplements or leads the function without the cost of a full internal team.

What is a pro forma financial statement, and when do I need one?

A pro forma financial statement is a forward-looking projection that models your financials under a specific set of assumptions, such as a new product launch, an acquisition, a new location, or a change in capital structure. You typically need one when seeking outside investment or financing, evaluating a major business decision, or planning a transaction. Lenders and investors routinely require them before committing capital.

When should I involve a CPA firm in a merger or acquisition?

As early as possible, ideally before a letter of intent is signed. Early involvement lets your advisor identify the tax implications of the deal structure, flag financial risks during due diligence, and help structure the transaction to reduce your tax burden and protect your interests. Once a deal is structured, many of those options are gone.

What is the tax impact of business entity formation choices?

The entity type you choose (sole proprietorship, partnership, LLC, S corporation, or C corporation) shapes how your income is taxed, which deductions are available, how profits are distributed, and what your liability exposure looks like. The right choice depends on your business goals, ownership structure, expected profitability, and long-term plans. Tax consequences compound over time, so choosing well at the start, or restructuring thoughtfully when circumstances change, can produce substantial savings.

How do I start trust and estate planning as a business owner?

Estate and trust planning for a business owner begins with a review of your ownership structure, the value of your business interests, and your goals for transferring wealth to family members, co-owners, or charitable beneficiaries. From there, your advisor evaluates tools such as trusts, buy-sell agreements, gifting strategies, and succession structures that fit both your personal wishes and your tax situation. For owners, business value and personal assets are closely intertwined, so this planning works best when your CPA and estate attorney work from the same picture.

Can my CPA firm also be my business advisor?

Yes, and the strongest CPA relationships work that way. A firm that already understands your financials, tax position, and industry can advise on business decisions without starting from scratch. At Larson & Company, consulting is a natural extension of our audit, tax, and accounting work. The insight we build through compliance engagements helps you plan, grow, and make confident decisions year-round.

CAN A CONSULTING TEAM PERFORM PERIODICAL REVIEWS OF FINANCIAL MODELS, REPORTING, OR MAJOR DECISIONS?

Many organizations engage advisors for independent review and perspective while retaining responsibility for execution. This can include reviewing financial models, reporting, or significant decisions on a periodic or as‑needed basis.