Adult Day Care Proof of Financial Ability to Operate
Terms & Conditions
The provider entity company name shall be referred to herein as “THE CLIENT” and includes its management and founding team. This letter is to confirm and specify the terms of my engagement with “THE CLIENT” for the preparation of the Proof of Financial Ability to Operate. We make no guarantee that AHCA, CMS, or other Federal or State agencies will approve your application. Fees for our services are non-contingent on approval and non-refundable.My engagement will be designed to perform the following services:
- Initial teleconference with “THE CLIENT” to explain the data required by us, as well as the format in which it’s required. The data shall be referred to herein as the “Organizer ”.
- “THE CLIENT” is solely responsible for the content and accuracy of all data including but not limited too, and financial data, projected revenue/hours, projected labor cost, narratives, and all other data.
- Accountants in Miami are engaged to compile the Proof of Financial Ability to Operate; from the data you provide using oral statements, emails, and the “Organizer”.
- We may require additional information and will request it via email if required. Your response to these inquires must be submitted to us within 5 working days from the date of the request. Any failure to provide requested data, and to do so on a timely basis as noted above, will impede our services and may require us to suspend our services or withdraw from the engagement.
- Accountants in Miami sole responsibility is the compilation of “THE CLIENT” data in an accepted format as requested by AHCA, CMS, or other Federal or State Agency, and in accordance with Generally Accepted Accounting Principles (GAAP).
- “THE CLIENT” is engaging Accountants in Miami for his compilation expertise, and not the actual content creation (i.e. business plan and financial data and drivers)
- This engagement is limited to one (1) draft of the Proof of Financial Ability to Operate. Any further revisions shall be billed at an hourly rate of $250.00 per hour, payable in advance with a 1-hour minimum referred to as a retainer. If the retainer is fully utilized, subsequent retainers will be requested and paid in advance before work is continued. No refunds will be given for unused retainers.
- Each additional draft, beyond the first, shall be submitted to “THE CLIENT” for review, edits, and or modifications in PDF format. Accountants in Miami reserves the right to reject any edits or modifications if they do not conform with GAAP or his knowledge of accepted State accreditation standards, Medicare standards, Medicaid standards, or Insurance or Private Pay standards.
- “THE CLIENT” submission of the Proof of Financial Ability to Operate whether in the draft or final form, to AHCA, CMS, or other Federal or State Agency constitutes “THE CLIENT” acceptance, acknowledgment, and sole responsibility for its accuracy and completeness.
- Omission Letters shall be brought to the attention of Accountants in Miami within 72 hours of receipt. will be happy to assist you with any corrections or edits as described in the Omission Letter. An hourly rate of $250.00 per hour, payable in advance with a 1-hour minimum referred to as a retainer. If the retainer is fully utilized, subsequent retainers will be requested and paid in advance before work is continued. No refunds will be given for unused retainers.
- Accountants in Miami reserves the right to refuse to assist “THE CLIENT” with a response to the Omission Letter for any reason including but not limited to “THE CLIENT” acceptance, acknowledgment, and submission of the Proof of Financial Ability to Operate as described in point 9 above.
- Accountants in Miami shall make best efforts to complete “THE CLIENT” Proof of Financial Ability to Operate within 5 working days referred to herein as Turn-Around-Time (TAT) from the date receipt of all required data by us. We will inform you when all data required is received, until which time, the 5-day TAT does not commence.
- Any failure to provide requested data, and to do so on a timely basis as noted above, will impede our services and may require us to suspend our services or withdraw from the engagement and subject to terms and conditions as described in this engagement letter.
- Our fees for this engagement are not Contingent on Approval from AHCA, CMS, or other Federal or State Agency. Rather, our fees for this engagement will (See Fee Above) payable upfront and non-Refundable. Should you decide to terminate our engagement for any reason, including your refusal to provide the information requested or accept the outcome of the “Total Source and Amount of Funds” required, no refunds will be given nor will the Proof of Financial Ability to Operate be issued. The information you provide will be incorporated into the AHCA prepared spreadsheet for the Proof of Financial Ability to Operate. We do not have control over the final amount for “Total Source and Amount of Funds”.
- You are responsible for adopting sound accounting policies, including management assumptions, when submitting your estimates for the financial projections, proposed services to be performed, and an estimate of annual billable hours in year 1 and 2 for proposed services, and the labor cost per each job function.
- At a minimum, you must supply to AHCA or other State Agency (from a financial perspective) the following data below. Your Consultant will also provide you with a list of other non-financial data that you must submit. If you do not have a Consultant assisting you through the application process, we highly recommend hiring one. Failure to submit all required data will result in an Omission Letter. You understand and acknowledge most states allow only two submissions of your application for licensing. If more than two Omission Letters are received, your application will be rejected and your only recourse will be to appeal. This may require hiring an attorney.
- Proof of Financial Ability to Operate
- A detailed list of Pre-Opening Costs and copies of paid receipts, canceled checks, or other proof of payment for the Pre-Opening Cost you have paid for prior to submitting the application and as noted in Data Sheet Below. You must you a format similar the Exhibit A for each category of expense.
- Bank account balance, certified by a bank officer, reflecting the required amount of “Total Funds Required” or greater. The date of the bank statement cannot be older than 10 days from the date you mail the application
- Copy of your office lease
- Copy of purchase contract if this is a CHAO
- Copy (front & back) of payments to seller if this is a CHAO
- Sign and release the any Reports
- Authorize the release of original or copies of any Reports
- Authorize the release of any original or copies of any other document(s) not specifically listed herein
Terms & Conditions
Accounting to a non-financial person can be a mammoth task according to Accountants in Miami, CPA. Wading through invoices, bank statements amongst other duties can be quite tasking especially for small business owners who have a lot of other things to do. Even businesses that have an in-house accounting team still need to manage the functions of the accounting team to ensure they meet the business objectives at a minimal cost.
The reasons why a company needs an accountant are lots and the next are a few of them. A lot of businesses go through bankruptcy due to improper accounting practices. An accountant performs an important function in a corporation since money administration is certainly one of their key roles in addition to keeping proper accounting records for every activity.
Contador público en Miami demuestra su guía lo ayudará a planearlo todo, preparándolo para el éxito. Guía de Planificación Financiera de Pequeñas Empresas Para el Año Nuevo. Leyes fiscales para las pequeñas empresas para el próximo período. Consejos de planificación fiscal para pequeñas empresas de fin de año 2020. Pasos para constituir una empresa.
Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. Then hire an accountant in Miami. Write a business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs.
Probablemente sea una buena idea que la mayoría de los propietarios de pequeñas empresas se concentren en el núcleo de su negocio, como vender ropa o diseñar sitios web y utilizar expertos Contador Público para ayudarlos en asuntos financieros. Según el IRS, más del 90% de las pequeñas empresas utilizan contadores para preparar sus declaración de impuestos, algo de lo que puede estar muy consciente durante la temporada de impuestos. Pero la declaración de impuestos de impuestos no es la única razón para utilizar un contador (Accountant o CPA en Inglés)
Income statement (also referred to as profit and loss statement (P&L), revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is a company’s financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the “top line”) is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as Net Profit or the “bottom line”). It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.