Practice Areas
Businesses constantly face new challenges. At Smith, Cochran & Hicks, PLLC (SCH), we recognize that our clients desire more than just an accounting firm. We offer the following practice areas, designed to meet your organization's comprehensive business needs:
Tax and Accounting Services
Public Utility Accounting and Consulting Services
Unclaimed Property Consulting Services
Workers’ Compensation Consulting Services
Class-Action Settlement Administration Services
Financing Assistance
Business Plans and Loan Applications
Tax and Accounting Services
SCH provides comprehensive tax and accounting services to individuals, partnerships, s-corporations, corporations, estates, and trusts, as well as not-for-profit and governmental entities. New tax laws, complicated regulations, and evolving technologies make growing your business challenging. As a West Virginia-based business that has emerged as one of the most diverse accounting firms in the state, we understand the current obstacles facing your small businesses.
We realize that your success depends in part upon knowledgeable decisions concerning tax matters. Accordingly, our skilled professionals take an aggressive approach to assisting your business with a commitment to helping you keep more of what you earn through effective tax planning strategies.
Services provided:
Public Utility Accounting and Consulting Services
SCH is one of the few public accounting firms in West Virginia with an entire department of skilled professionals dedicated solely to the needs of the water, wastewater, and solid waste industries. Our professionals are well versed in public utility regulations and operations. We have represented numerous utility companies with certificate applications before the Public Service Commission of West Virginia and routinely prepare Rule 42 Exhibits for organizations in Public Service Commission cases involving rate tariff charges.
Services provided:
Unclaimed Property Consulting Services
Since 2003, SCH has contracted with State Agencies to provide Unclaimed Property Audit and Consulting Services. SCH is one of the only accounting firms in the United States to have staff dedicated solely to services related to unclaimed property. During this period of time, SCH has conducted hundreds of unclaimed property audits and desk reviews on entities of all types, with a particular emphasis on the health-care, utility, oil & gas, and banking industries.
In addition to providing audit and consulting services to State Agencies, SCH provides consulting services to clients of all sizes in the private sector. All private companies are subject to the Uniform Unclaimed Property Act (the “Act”), but few actually comply with the Act’s requirements on an annual basis. While each consulting engagement is tailored to the specific needs of the client, most last for a period of one week. If you need assistance with bringing your company into compliance with the Act, please contact us.
Services provided:
Workers' Compensation Consulting Services
At SCH, our certified professionals are experienced and can assist your company in effectively managing your workers’ compensation claims. Our staff can save you money in claims, settlements, expenses, and premiums. We are not affiliated with any carrier nor are we obligated under any agency restrictions. Our commitment is to enhance your efforts to control and understand workers’ compensation claims’ management.
SCH professionals can also assist with controlling your workers’ compensation cost. We are well-versed in workers’ compensation and can provide you with a better understanding of your options. By analyzing an array of exposure and coverage issues specific to your organization, our professionals can strengthen your business. We are knowledgeable of the ever-changing rules and regulations of NCCI (National Council on Compensation Insurance) and can detect and correct errors found in your workers’ compensation audits, premium calculations, and experience modification factors.
Services provided:
Class-Action Settlement Administration Services
The role of the settlement or claims administrator in any class action is to implement the terms of the settlement agreement. An administrator that is an independent third party adds credibility to the implementation and distribution of settlement benefits. We provide that implementation accurately, objectively, and promptly.
From the initial notification to the final settlement report, our experienced staff at SCH can provide comprehensive settlement and claims administration services to ensure no detail is overlooked.
Services provided:
Our call center professionals and claims technicians provide a professional point of contact for all members of and parties to the class litigation. Our operators possess years of professional training and experience as operators and customer service representatives. They work with claimants and claimants' legal representatives to determine eligibility, assist claimants in understanding the terms and requirements of participation in the settlement, and help them complete the documentation required to participate, prepare mailings, and process the claims information submitted by class members.
In addition to these services, our affiliates give us the ability to offer document imaging and conversion, website design and web-based access to database information and documents, data mining, remote access, and data warehousing. Since much of the work required of claims administrators is information management, the capabilities of our affiliates truly complement our administration practice.
Financing Assistance
SCH has developed close relationships with commercial lenders and venture capital groups throughout West Virginia and several regional underwriting firms. In addition to working with lenders and underwriters, we work closely with client management, project developers, and other consultants on financing projects.
Services provided:
Business Plans and Loan Applications
Applying for a commercial loan is an intricate and often confusing experience. SCH can help you navigate the process and create a complete and thorough business plan with all the necessary documentation.
Services provided:
By collaborating with businesses to secure commercial loan approval, we work diligently to gain your trust and confidence. We want to grow with your organization and we welcome the opportunity to help West Virginia businesses succeed and prosper in this ever-changing competitive market.
Businesses constantly face new challenges. At Smith, Cochran & Hicks, PLLC (SCH), we recognize that our clients desire more than just an accounting firm. We offer the following practice areas, designed to meet your organization's comprehensive business needs:
Tax and Accounting Services
Public Utility Accounting and Consulting Services
Unclaimed Property Consulting Services
Workers’ Compensation Consulting Services
Class-Action Settlement Administration Services
Financing Assistance
Business Plans and Loan Applications
Tax and Accounting Services
SCH provides comprehensive tax and accounting services to individuals, partnerships, s-corporations, corporations, estates, and trusts, as well as not-for-profit and governmental entities. New tax laws, complicated regulations, and evolving technologies make growing your business challenging. As a West Virginia-based business that has emerged as one of the most diverse accounting firms in the state, we understand the current obstacles facing your small businesses.
We realize that your success depends in part upon knowledgeable decisions concerning tax matters. Accordingly, our skilled professionals take an aggressive approach to assisting your business with a commitment to helping you keep more of what you earn through effective tax planning strategies.
Services provided:
- Income tax planning and preparation for individuals, partnerships, s-corporations, and corporations
- Monthly, quarterly, and annual bookkeeping and write-up services
- Compilations, reviews, audits, and other attestation engagements such as examinations and agreed-upon procedures
- Estate planning and consulting
- Tax exempt status filings
- Network systems support and administration
- Software training on various accounting programs such as QuickBooks, Peachtree, and MAS-90, among others
Public Utility Accounting and Consulting Services
SCH is one of the few public accounting firms in West Virginia with an entire department of skilled professionals dedicated solely to the needs of the water, wastewater, and solid waste industries. Our professionals are well versed in public utility regulations and operations. We have represented numerous utility companies with certificate applications before the Public Service Commission of West Virginia and routinely prepare Rule 42 Exhibits for organizations in Public Service Commission cases involving rate tariff charges.
Services provided:
- Rate analysis and feasibility studies
- Provide expert testimony before the Public Service Commission of West Virginia
- Preparation of specialized and annual Public Service Commission reports
- Preparation of reimbursement requests from federal and state financial agencies
- Design and development of financing plans for capital projects
- Design of internal control structures and financial reporting systems
- Provide monthly bookkeeping and compilation services
Unclaimed Property Consulting Services
Since 2003, SCH has contracted with State Agencies to provide Unclaimed Property Audit and Consulting Services. SCH is one of the only accounting firms in the United States to have staff dedicated solely to services related to unclaimed property. During this period of time, SCH has conducted hundreds of unclaimed property audits and desk reviews on entities of all types, with a particular emphasis on the health-care, utility, oil & gas, and banking industries.
In addition to providing audit and consulting services to State Agencies, SCH provides consulting services to clients of all sizes in the private sector. All private companies are subject to the Uniform Unclaimed Property Act (the “Act”), but few actually comply with the Act’s requirements on an annual basis. While each consulting engagement is tailored to the specific needs of the client, most last for a period of one week. If you need assistance with bringing your company into compliance with the Act, please contact us.
Services provided:
- Annual reporting services
- Unclaimed property compliance reviews and improvement planning
- Due diligence management programs
- Unclaimed property compliance solutions
- Unclaimed property audit defense services
- Policy and procedure development
- Corporate unclaimed property training
Workers' Compensation Consulting Services
At SCH, our certified professionals are experienced and can assist your company in effectively managing your workers’ compensation claims. Our staff can save you money in claims, settlements, expenses, and premiums. We are not affiliated with any carrier nor are we obligated under any agency restrictions. Our commitment is to enhance your efforts to control and understand workers’ compensation claims’ management.
SCH professionals can also assist with controlling your workers’ compensation cost. We are well-versed in workers’ compensation and can provide you with a better understanding of your options. By analyzing an array of exposure and coverage issues specific to your organization, our professionals can strengthen your business. We are knowledgeable of the ever-changing rules and regulations of NCCI (National Council on Compensation Insurance) and can detect and correct errors found in your workers’ compensation audits, premium calculations, and experience modification factors.
Services provided:
- Determine if claims are properly investigated
- Evaluate existing claims for settlement
- Recommend changes specific to your organizations operations
- Estimate the impacts on your experience modification factor
- Verify the accuracy of your premium audit
Class-Action Settlement Administration Services
The role of the settlement or claims administrator in any class action is to implement the terms of the settlement agreement. An administrator that is an independent third party adds credibility to the implementation and distribution of settlement benefits. We provide that implementation accurately, objectively, and promptly.
From the initial notification to the final settlement report, our experienced staff at SCH can provide comprehensive settlement and claims administration services to ensure no detail is overlooked.
Services provided:
- Call center and professional operator services
(24/7 — in both English and Spanish) - Initial database design, construction, and maintenance with remote data access
- Calculation of settlement payments
- Check preparation
- Disbursement of expense funds
- Settlement account reconciliation
- Fraud prevention
- Interim and final report preparation
Our call center professionals and claims technicians provide a professional point of contact for all members of and parties to the class litigation. Our operators possess years of professional training and experience as operators and customer service representatives. They work with claimants and claimants' legal representatives to determine eligibility, assist claimants in understanding the terms and requirements of participation in the settlement, and help them complete the documentation required to participate, prepare mailings, and process the claims information submitted by class members.
In addition to these services, our affiliates give us the ability to offer document imaging and conversion, website design and web-based access to database information and documents, data mining, remote access, and data warehousing. Since much of the work required of claims administrators is information management, the capabilities of our affiliates truly complement our administration practice.
Financing Assistance
SCH has developed close relationships with commercial lenders and venture capital groups throughout West Virginia and several regional underwriting firms. In addition to working with lenders and underwriters, we work closely with client management, project developers, and other consultants on financing projects.
Services provided:
- Assistance in preparing business plans
- Assistance in structuring project financing
- Preparation of forecasts and projections
- Loan package preparation and presentation
- Assistance in identifying sources of financing, including venture capital and government agencies (USDA, EDA, SBA, etc.)
Business Plans and Loan Applications
Applying for a commercial loan is an intricate and often confusing experience. SCH can help you navigate the process and create a complete and thorough business plan with all the necessary documentation.
Services provided:
- Procurement of business loans
- Preparation of your financing package for lenders and investors
- Identification of additional collateral
- Evaluation of your financing structure
- Analysis of non-security investment opportunities to ensure an informed investment decision
- Format and presentation of your loan request
By collaborating with businesses to secure commercial loan approval, we work diligently to gain your trust and confidence. We want to grow with your organization and we welcome the opportunity to help West Virginia businesses succeed and prosper in this ever-changing competitive market.