There are significant opportunities for U.S. businesses in China. Stonefield Josephson offers an array of services to companies involved in targeting those opportunities.

Services we offer:

• GAAP audit/GAAP Conversion
  We provide GAAP (Generally Accepted Accounting Principles) auditing service for clients who prepare their financial statements in accordance with accounting principles generally accepted in the United States. We serve U.S.-based companies requiring auditing services for their Asia-based subsidiaries in order to prepare their audited, consolidated financial statements. In addition, we also provide auditing services for Asia-based companies intending to have their stock listed on the U.S. Stock Exchange through IPOs or reverse mergers.
  
  For companies requiring assistance to successfully complete the transition to different accounting standards, Stonefield's conversion specialists bring technical, training, communications and change expertise to the table.
  
  Stonefield Josephson was among the nation's first accounting firms to be registered and approved by the Public Company Accounting Oversight Board (PCAOB). We are also a member of the American Institute of Certified Public Accountants .
  
  
• IFRS audit/ IFRS conversion
  With IFRS (International Financial Reporting Standards) rapidly becoming a dominant language of financial reporting worldwide, due to the increased globalization of commerce, it is important that your company begins assessing the impact of IFRS now. Our IFRS professionals will help you review, streamline and improve all aspects of your company's accounting, reporting and related compliance and information technology processes.
  
  
• SEC advisory service
  Our SEC (U.S. Securities and Exchange Commission) advisory service professionals work closely with non-audit clients in the United States, China and around the world to assist them in their efforts to meet their financial reporting requirements through:
  • Providing information for the latest accounting and reporting pronouncements
  • Assisting in preparing the company's quarterly and annual financial statements prior to submission to external auditors
  • Assisting in preparing other information included in SEC filings, such as Form 10K, 10Q and registration statements
  • o Assisting in technical accounting areas such as income taxes and share-based compensation
  • Assessment of key accounting assumptions and practices
    
    
• Due diligence
  Performing due diligence on one's potential partners, distributors, suppliers or merger targets will help business owners make an informed and educated decision before entering into an agreement and can greatly boost the success rate of an M&A transaction, a joint-venture deal, or even a sourcing, supply or distribution relationship in China. Our well-schooled due diligence team operating in the post-Enron environment is on a focused mission to ascertain whether a company has even a hint of undisclosed accounting irregularities that could form the basis for material misstatements of its financial statements. We then suggest solutions to deal with any irregularities so that the company can exist with the peace of mind of a clean bill of health. We also assist our non-audit clients to evaluate potential acquirees' accounting books and records in order to determine whether the acquirees' financial statements are auditable.
  
  Our Due Diligence Review includes:
  • Review of accounting policies and procedures
  • Review of internal audit structure and procedures
  • Quality and sustainability of earnings and cash flow
  • Condition and value of assets
  • Undisclosed and potential liabilities
  • Accounting systems and controls
  • Tax implications of deal structures
  • Examination of key operational processes
  • Examination of information systems to establish the reliability of financial information
    
    
• Contract compliance/Royalty audit
  Stonefield Josephson's contract compliance and royalty audit professionals perform examinations of third-party records to recover money and other valuable benefits while helping enhance relationships with the third party.
  
  Our professionals have extensive career experience in a wide range of industries such as entertainment, consumer products, technology, software, and healthcare. Stonefield Josephson professionals routinely deliver findings that substantially exceed prior advisors' results.
  
  
• Internal audit
  The Stonefield Josephson Internal Audit Service professionals help our clients mitigate business risks while improving operating results. They do so by developing and implementing internal audit and financial advisory processes appropriate to your company's needs.
  

• Valuable connections through disciplines beyond accounting
  To further facilitate your developing, establishing, structuring and maintaining successful business operations in China, the professionals at Stonefield Josephson offer special assistance through our SJ Connect service. SJ Connect provides Stonefield Josephson clients and friends with expert solutions to their immediate business, management and financial needs at the local, national or international level, drawing upon a network of top professionals in various disciplines beyond accounting.