Thornhill Financial ~~ Overview
CPA’s and Business Advisors

Table of Contents
1. About Thornhill Financial
2. Our Advantage
3. Background of Principals
4. Services Offered
5. Companies and Industries Served
6. Contact Us
2

About Thornhill Financial
 Founded in 1995, on the premise that there is a strong need for quality tax,
accounting and business advisory services at a reasonable price.
 Weare a relatively small firm, but our tradition and significant experience
enables us to provide a variety of services to satisfy our clients’ needs.
 At Thornhill, we are committed to providing our clients with:
 A professional approach - We are committed to providing a high level of professional
service to all of our clients. We strive to be their trusted business advisors.
 A personal, caring approach - We believe that strong personal relationships are the key to
providing outstanding service. We encourage frequent interaction to discuss issues you are
facing.
 Competent, technical advice – We strive to be proactive in identifying issues rather than
responding to problems. Our team approach enables us to identify creative and innovative
solutions to meet your business and tax needs.
 A practical approach – We understand that cost is considered in every recommendation
we make. Therefore, we strive to consistently bring the most practical, cost-effective
solution to the table.
3

Our Advantage
 Integrated approach
 Client service team consists of team members from each discipline.
 “Big 4” experienced senior professionals
 Senior level counsel and execution
 Each client and client assignment is actively managed by a Principal.
 Industry Experience
 Our lead principal in Business Advisory Services worked in industry for 20+ years, most
recently as a senior level finance executive.
 We understand your issues and concerns from the “inside” perspective, since we have
lived it.
4

Background of Principals
Tom Feola, CPA
 Over 25 years public accounting experience, 13 of which were at Arthur Andersen.
 Expertise in tax compliance and planning services.
 Extensive experience in mergers and acquisitions, the manufacturing, construction
and wholesale distribution industries.
 Tom specializes in working with closely-held businesses and their owners.
Keith Walcutt, CPA
 Over 20 years public accounting experience, 11 of which were at Arthur Andersen.
 Expertise in accounting, auditing and benefit plan compliance.
 Industry experience includes manufacturing, wholesale distribution and construction
industries.
 Extensive experience with both publicly-traded and closely-held businesses.
5

Background of Principals (cont.)
Kurt Walcutt, CPA
 Approximately 20 years public accounting experience, eight of which were at
Arthur Andersen.
 Served at IMG as a financial planning account executive.
 Over 15 years of experience in consulting with businesses and individuals in the
area of taxation.
 Extensive experience in tax planning for executives and closely held businesses.
Don Tomoff, CPA, MBA
 Joined Thornhill Financial in 2008 – primary focus on Business Advisory Services.
 Over 20 years experience in senior finance & accounting positions, in addition to six
years public accounting experience with Price Waterhouse.
 Expertise includes management reporting, finance related process improvement,
public company (SEC) compliance, Sarbanes-Oxley implementation, and Treasury.
 Recently served as VP of Finance & Treasurer at a NYSE-listed company.
6

Services Overview
Accounting & Assurance Services
 Audit, review and compilation services
 Employee benefit plan audits
 Agreed-upon procedures engagements
 Accounting compliance assistance
Tax Compliance
 Income tax returns preparation and compliance assistance
 IRS audit representation – federal, as well as state and local
 FAS 109 tax provision and FIN 48 compliance assistance
 Expatriate returns preparation and compliance
 Form 5500 (DOL benefit plan) preparation and review
7

Services Overview (cont.)
Tax Planning
 Mergers and acquisitions assistance
 Multi-state tax planning
 Tax planning for business owners and high net-worth individuals
 Business entity structure and selection
 Business succession and estate planning assistance
8

Services Overview (cont.)
Business Advisory
 Management/board reporting systems design and development
 Financial function process review and improvement assistance
 CFO transition assistance services
 Treasury management – bank relationships, financing coordination, and
bank reporting compliance assistance
 Cash forecasting/reporting design and process development
 Accounting and technology tools training
 Going “paper-lite” – transitioning to a simpler digital work environment
 Special projects requiring senior finance level expertise (modeling,
planning, forecasting, etc.)
9

Services Overview (cont.)
Finance Outsourcing Services
Many companies choose to outsource certain functions that require more
expertise than is available in-house. This is typically more cost effective and the
product is higher quality. In addition, it frees up resources that can be focused
on business operations. These functions could include:
 CFO/senior financial advisor assistance
 Monthly management financial reporting and analysis
 Book & tax depreciation/fixed asset system maintenance
 Audit preparation, coordination assistance
 Tax returns processing compliance
 Account analysis and reconciliation assistance
 Accounting and technology training
10

Services Overview (cont.)
SEC/Public Company Assistance
 SEC Reporting Compliance
 Document preparation assistance (10-K, 10-Q, Proxy)
 Sample footnote disclosure research and analysis (new standards, etc.)
 Compliance calendar development and implementation
 Sarbanes-Oxley Act Compliance Assistance
 Entity controls “tone at the top” evaluation & documentation
 Assistance with 404 process identification and documentation preparation
 Documentation organization, repository development assistance
 Second-source provider capabilities
 Tax Compliance
 Tax provision “FAS 109” preparation assistance/outsourcing
 FIN 48 “Uncertain Tax Positions” compliance assistance
11

Companies and Industries Served
Thornhill has the capabilities to serve both large publicly-traded companies
and small, closely-held organizations. Specific industries our senior
employees have worked with include:
 Construction
 Manufacturing and distribution
 Professional service firms
 Retail
 Restaurants
 Real estate development
 Internet services
12

Contact Us
If additional information is desired or you would like to better understand what our
capabilities are, please contact any of our Principals directly:
Tom Feola (Tax) Keith Walcutt (Assurance)
440-638-7176 440-638-7291
tsfeola@thornhillcpa.com keith.walcutt@thornhillcpa.com
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Kurt Walcutt (Tax) Don Tomoff (Business Advisory)
440-638-7252 440-638-7122
knwalcutt@thornhillcpa.com drtomoff@thornhillcpa.com
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