Omega Accounting Solutions

Small business spotlight: RPM QA Services LLC ⚙️   In collaboration with Omega Accounting Solutions, we are proud to spotlight RPM QA Services, specializing in engineering, metrology & calibration services. Co-founder Ernesto Perez and his family are #LAGalaxy fans and current Season Ticket Holders.    Nominate a small business to be featured at GalaxySmallBiz.com.

Unlock reliable profitability with proven accounting practices for manufacturers! Read our latest blog and dive into strategies that ensure financial stability and growth for your manufacturing business. https://bit.ly/3LuPiP5 #accounting #manufacturers #productcosting #assetmanagement #machineutilization

Discover how the R&D Tax Credit can benefit the brewing industry! Uncover your brewery's financial perks and innovation opportunities by reading our latest blog. #randd #randdtaxcredit #omegaaccounting #researchanddevelopment #brewing #taxcredit https://bit.ly/4cHfm5J

Keep up the great work, JC Retrofit 👏 Nominate your small business for a chance to be seen on social media & the big screen at the link below! 🔗: GalaxySmallBiz.com | Omega Accounting Solutions

What an incredible week we had last week in Orange County delivering our in person trade mission, as part of the mission the delegates Stuart ingram House of Elrick Gin Limited Kenny Stewart Craig Evans 126 Water for Whisky - Loch Ness, Scotland Rowan Morrison Svein Clouston Rationale Arabella Harvey Raven Botanicals Jolene R. Òir Soap Trystan Powell Power a Life Toby Trueman Heehaw - The Video Agency received market briefings on key opportunities in Orange County, enjoyed one to one meetings, attended multiple networking events and tapped into the expertise of legal and financial experts who informed the delegates of considerations the may have to consider when doing business in California. I would like to extend a massive thank you to Jacquie Blair Lee Evans Jennifer Timm from the British American Business Council Orange County (BABC-OC) for all the support they have provided me over the last few months, their guidance and assistance have been key to our success and their dedication is deeply appreciated. A big thanks also goes to skoti collins and Cara Warwick from Skoti Collins Productions for their support in the lead up to the mission and also for hosting us on Monday evening. Thanks also to the Greater Irvine Chamber Carlos Oregon Daniel Han Thomas Løgstrup Riebs Omega Accounting Solutions Ray Ferrari John Samtoy Edward Cole Blake Miller Kenneth S. August for being part of our Market Awareness Session/Legal and Tax Sessions and thanks to all the businesses that we connected with whilst in Orange County. We wish all the delegates success in their international endeavours and cannot wait to hear more about their business growth following the mission. This trade mission was delivered as part of the Scottish Chambers of Commerce International Trade Programme on behalf of the The Scottish Government. Inverness Chamber of Commerce are organising an in person mission to Ireland in November and if you would like to find out more about this mission please email -  international@inverness-chamber.co.uk Frazer Coupland Lochaber Chamber of Commerce

What an incredible week we had last week assisting with our first in person trade mission to #orangecounty. Congrats to Eilidh MacDonald Frazer Coupland Lochaber Chamber of Commerce on a successful and extremely well-organized mission. We welcomed some fabulous businesses looking to expand into the #orangecounty region. Delegates included Stuart ingram House of Elrick Gin Limited Kenny Stewart Craig Evans 126 Water for Whisky - Loch Ness, Scotland Rowan Morrison Svein Clouston Rationale Arabella Harvey Raven Botanicals Jolene R. Òir Soap Trystan Powell Power a Life Toby Trueman Heehaw - The Video Agency Thanks to our meeting hosts the Greater Irvine Chamber, skoti collins and Omega Accounting Solutions. And thanks to our speakers, Carlos Oregon Daniel Han Thomas Løgstrup Riebs Ray Ferrari John Samtoy Edward Cole Blake Miller Kenneth S. August Jennifer Timm We wish all the delegates success in their international endeavors and look forward to welcoming you back to Orange County! This trade mission was delivered as part of the Scottish Chambers of Commerce International Trade Programme on behalf of the The Scottish Government #britishamericanbusiness #britsinoc

Honored to have been the Presenting Sponsor and to speak at the 29th Annual ACG Orange County Awards. Congratulations to all the finalists and winners! #ACGOC29 #awards #sponsorship #omega

The DEA has proposed reclassifying cannabis from Schedule I to Schedule III, signifying a historic shift in U.S. drug policy. This reclassification could provide substantial R&D tax benefits to numerous cannabis businesses. Discover more about this potential industry game changer and its implications by reading our latest article. https://bit.ly/4bmXcpb #CannabisReform #DEA #RDTaxCredit #BusinessInnovation #CannabisTaxCredit

An accountant and an engineering walk into a bar... what do they talk about? Predictive analytics! Utilizing Engineering Methods to Advance Finance and Accounting with Predictive Analytics At Omega, we are dedicated to advancing our accounting practices and moving up the “accounting maturity curve.” One effective approach we have implemented is using predictive analytics at a financial statement level. This method integrates accounting and engineering best practices to flag issues, identify opportunities, and prompt further discussions. Here are the three key components of our implementation: 1. Accurate, Detailed, and Well-Maintained Financial Information: Ensuring accurate and detailed financial reporting is critical for any business. At Omega, we specialize in maintaining high-quality financial information, which forms the foundation of the accounting maturity curve and is essential for all businesses. 2. Baseline Statistical Model: Similar to predictive analytic models used in engineering (e.g., critical component monitoring in a power plant), we create a baseline model of performance for each level of the financial statements. This “steady state” operating model provides a range of expected values based on historical data. 3. Budget and Forecast: By overlaying the budget and forecast onto the baseline model, we can project performance and identify critical areas for the business. This helps in taking an expected range from the baseline and predicting future performance. Once these three components are in place, the algorithm flags values that fall outside the statistical range, prompting the controller to investigate further. This approach is akin to a power plant operator monitoring critical equipment values and being alerted to issues before a failure occurs. By combining predictive analytics with accounting and FP&A best practices, businesses can advance on the maturity curve and gain deeper insights into their financials. #Engineering #Finance #Business #BestPractice #Predictiveanalytics #Financialplanningandanalytics

Are you looking to maximize R&D tax credits for your clients? Omega's expert guidance ensures a seamless process from identification to claim. Discover how our 5-step approach can benefit your clients today. Check out our latest blog for more insights! https://bit.ly/3WothYT #CPA #TaxIncentives #randdtaxcredit