Long Island Financial Management Services

Accounting, Consulting & Audit Services for Non-Profits, Government Agencies & Corporations

Accountant in Wantagh, NY (show on map)

4.4

★★★★☆

7 reviews

AICPA Peer Reviewed accounting firm offering accounting, consulting, and audit services to non-profits, governments, and corporations.

Call (516) 557-2325

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About

Long Island Financial Management Services (LIFMS) is an AICPA Peer Reviewed accounting firm that provides accounting, consulting, and audit/attest services to governments, corporations, and non-profit entities. As a Certified Woman-Owned Business, they offer a full range of accounting services to government entities, large corporate clients, not-for-profit organizations, entrepreneurs, small to mid-sized businesses, and healthcare organizations.

LIFMS emphasizes team expertise, affordability, and tailored financial solutions, with offices in Wantagh, New York, and an upcoming branch in Los Angeles. They serve clients across Nassau and Suffolk Counties, New York City, and California, utilizing the latest technology and a client-centered approach to enhance mission-driven organizations' financial health and operational efficiency.

Certified Woman-Owned Business

AICPA Peer Reviewed

State-of-the-Art Technology

Client-Centered Approach

Extensive Experience in Healthcare and Government Accounting

Services

Audit & Assurance Services

Provides certified audits, reviews, and agreed-upon procedures for healthcare and non-profit clients.

Certified audits Month-end and Year-end Closing Process Guidance Customized Dashboard Metric Design Operational and Accounting Control Improvements Oversee and/or Assist with Financial Statement Preparation Analysis and Recommendations Relative to large Medical Group Practice organization structure Develop Financial Projections and Monitoring Tools Develop Operational and Capital Budgets as well as Monitoring Tools Hospital Service Line Analysis New York State Delivery System Reform Incentive Payment Project (DSRIP) assistance Restructuring of Lease Agreements and Operating Arrangements for a Physician’s Office Building Corporate Structure recommendations in for-profit and not-for-profit settings Benchmarking Merger and Acquisition Assistance/Due-diligence Outsourced Internal Auditing services

Not-for-Profit Services

Specialized accounting, tax, and advisory services for charitable organizations.

Certified audits, Reviews and Compilations Application for exempt status 501(c)(3) and other exemptions Accounting system implementation assistance Outsourced accounting and bookkeeping, including CFO services Form 990 preparation Preparation and reviews of Consolidated Financial Report (CFR) Automated grant reporting Budgeting, project tracking and management Cash forecasting Bank reconciliations Monthly voucher preparation for funders Annual Office of Charities filing Consultation regarding unrelated business income tax Sales tax filing Consultation regarding for profit subsidiaries

Federal Government Services

Comprehensive audit, consulting, and internal audit outsourcing for federal agencies.

Public sector attest and certified financial auditing Internal auditing and internal control reviews Audits of grantees and subcontractors Business process transformation and reengineering Budget development, tracking and compliance Cost reduction studies Audit preparation assistance Financial modeling and projections

State & Local Government Services

Tailored accounting, audit, and consulting solutions for state and local governments.

Internal Audit Full Outsourcing Quality Assurance Reviews Business Transformation assistance Compliance with state-specific financial regulations Budget and financial forecasting Grant and subsidy management Cost-saving analysis

Corporate Services

Full-service accounting, tax, and advisory solutions for corporations.

Outsourced accounting and bookkeeping CFO services Tax planning and compliance Financial statement preparation Business process optimization Risk management and internal controls Strategic financial advisory

Healthcare Consulting & Financial Services

Specialized consulting and financial services for healthcare organizations.

Certified audits for healthcare entities Financial statement preparation oversight Operational and accounting control improvements Financial projections and monitoring tools Hospital service line analysis DSRIP assistance Lease and operating arrangement restructuring Corporate structure recommendations Benchmarking Merger and acquisition due diligence Outsourced internal auditing

Credentials & Certifications

AICPA Peer Reviewed

Certified Woman-Owned Business

CPA Licenses (New York & California)

Reviews

Rating

4.4

★★★★☆

Reviews

Frequently Asked Questions

What types of organizations do you serve? +

LIFMS serves non-profit entities, governments (federal, state, and local), corporations, healthcare organizations, and small to mid-sized businesses.

Do you offer outsourced accounting services? +

Yes, LIFMS provides outsourced accounting and bookkeeping services, including CFO services, for a wide range of clients.

What is your experience with healthcare consulting? +

LIFMS has extensive experience providing healthcare consulting and financial services to large academic medical centers, community hospitals, skilled nursing facilities, and other healthcare providers.

How do you assist not-for-profit organizations? +

LIFMS offers specialized accounting, tax, and advisory services for charitable organizations, including 501(c)(3) application assistance, Form 990 preparation, and grant reporting.

What federal government services do you provide? +

LIFMS provides public sector attest and certified financial auditing, internal auditing, budget development, cost reduction studies, and financial modeling for federal agencies.

Do you have experience with state and local government audits? +

Yes, LIFMS offers internal audit outsourcing, quality assurance reviews, and business transformation assistance for state and local governments.

What is your approach to corporate accounting? +

LIFMS provides outsourced accounting, CFO services, tax planning, and strategic financial advisory for corporations, focusing on operational optimization and risk management.

How do you support healthcare organizations financially? +

LIFMS offers certified audits, financial statement preparation oversight, operational control improvements, and specialized financial projections for healthcare clients.