Market Research Report: Lawrence J. Beardsley CPA, PLLC

Background

Company Overview

Lawrence J. Beardsley CPA, PLLC (LJB CPA) is a full-service accounting firm headquartered in Arlington, Texas, with additional offices in Dallas and Addison. Established in 1991, the firm has been dedicated to enhancing lives by fostering the growth and success of conscious enterprises. LJB CPA offers a comprehensive suite of services, including audits, tax planning and compliance, cost reporting, and consulting, serving clients across 27 states.

Mission and Vision

LJB CPA's mission is to inspire clients and team members to make a significant, positive impact on society, elevating humanity through their work. The firm's vision centers on enhancing lives by fostering the growth and success of conscious enterprises, believing that by inspiring clients and employees to make a positive societal impact, they collectively elevate humanity.

Industry Significance

Operating within the accounting industry, LJB CPA distinguishes itself by focusing on conscious enterprises—businesses committed to social responsibility and ethical practices. This niche positioning allows the firm to cater to organizations seeking not only financial expertise but also alignment with their values and mission.

Key Strategic Focus

Core Objectives

LJB CPA aims to provide innovative solutions and personalized support that drive continuous improvement for its clients. The firm is committed to delivering high-quality, reliable, and service-oriented accounting services that empower clients to achieve their financial goals and make a positive societal impact.

Areas of Specialization

The firm specializes in several key areas:

Audit and Attest Services: Conducting thorough audits, reviews, and compilations to ensure financial integrity and compliance.

Tax Planning and Compliance: Offering strategic tax planning and ensuring compliance with federal, state, and local regulations.

Cost Reporting Services: Providing specialized assistance with Medicare and Medicaid cost reports, crucial for healthcare providers.

Comprehensive Accounting: Delivering full-spectrum accounting services, including bookkeeping, payroll, and financial reporting.

Consulting Services: Offering strategic advice on business processes, financial management, and operational efficiency.

Key Technologies Utilized

LJB CPA employs modern technology stacks such as Vanta, Drata, and Flywheel, indicating a commitment to digital security and efficiency. These tools enhance the firm's ability to provide secure and efficient services to clients.

Primary Markets Targeted

The firm primarily targets conscious enterprises—businesses committed to social responsibility and ethical practices. This includes organizations in healthcare, consumer goods, technology, distribution, employee benefit plans, and construction sectors.

Financials and Funding

Revenue Estimates

LJB CPA's annual revenue is estimated to be between $10 million and $25 million, reflecting its substantial presence in the accounting industry.

Funding History

As a privately held firm, LJB CPA has not publicly disclosed specific funding rounds or investor details. The firm's growth and expansion are likely supported through internal revenue generation and strategic partnerships.

Pipeline Development

Service Expansion

LJB CPA continues to expand its service offerings to meet the evolving needs of its clients. The firm has recently introduced a consulting practice led by Michael Cox, CPA, aiming to provide strategic financial guidance and support to businesses seeking long-term success.

Technological Platform and Innovation

Proprietary Technologies

While specific proprietary technologies are not detailed, LJB CPA's use of advanced tools like Vanta, Drata, and Flywheel demonstrates a commitment to leveraging technology for enhanced service delivery.

Significant Scientific Methods

The firm employs data analysis and audit software tools to conduct in-depth examinations of financial records, transactions, and statements, ensuring accuracy and compliance.

Leadership Team

Executive Profiles

Brian Wing, CPA: CEO and Managing Partner. With over 15 years of experience, Brian has served in various C-level roles, including President, Partner, COO, and CFO. He holds a Master of Business Taxation and an MBA in International Business from the University of Southern California.

Caitlin LeMaire, CPA: Partner. Caitlin manages firm operations, staff development, marketing, and business development. She holds both bachelor's and master's degrees in accounting from Louisiana Tech University and is licensed in Texas and Nevada.

Jeff Redd, CPA: Partner. Jeff directs the tax practice, overseeing income tax compliance, planning, audits, and collections. He began his career at a small local CPA firm and has built extensive expertise in individual and business taxation.

Naureen Rajput: Partner. Naureen focuses on providing turn-key accounting services, with a decade of experience in accounting. She holds a bachelor's degree in accounting and an MBA.

Ahmed Hafiz, CPA, MBA, MSA: Tax Partner. Ahmed has over a decade of experience advising individuals, families, and businesses on complex tax matters. He earned both his MBA and M.S. in Accounting from The University of Dallas.

Jennifer Giannini, CPA: Audit Principal. Jennifer brings over 30 years of experience in assurance and consulting services, serving clients in various industries, including healthcare, broker-dealer, manufacturing, and professional services.

Michael Cox, CPA: Consulting Principal. Michael has a background in audit at KPMG and has held executive leadership and advisory roles, guiding middle-market companies through growth, restructuring, strategic planning, and exit readiness.

Leadership Changes

Recently, Michael Cox, CPA, joined LJB CPA as a Consulting Principal, leading the firm's new consulting practice.

Competitor Profile

Market Insights and Dynamics

The accounting industry is characterized by a diverse range of firms, from large multinational corporations to specialized boutique firms. LJB CPA's focus on conscious enterprises positions it uniquely, catering to businesses that prioritize social responsibility alongside financial success.

Competitor Analysis

Key competitors include larger firms like Deloitte, PwC, and local firms such as Kolder, Slaven & Company, LLC, and LaPorte CPAs and Business Advisors. LJB CPA differentiates itself by its commitment to conscious capitalism and personalized service tailored to the unique needs of its clients.

Strategic Collaborations and Partnerships

Collaborations

LJB CPA has recently expanded its consulting services by bringing on Michael Cox, CPA, as a Consulting Principal, enhancing its ability to offer strategic financial guidance to clients.

Operational Insights

Strategic Considerations

LJB CPA's focus on conscious enterprises allows it to build strong, trust-based relationships with clients who value ethical practices and social responsibility. This strategic focus enables the firm to offer specialized services that align with clients' missions and values.

Strategic Opportunities and Future Directions

Growth Opportunities

LJB CPA has the opportunity to expand its service offerings, particularly in consulting, to meet the evolving needs of its conscious enterprise clients. By leveraging its expertise and commitment to quality, reliability, and service, the firm can continue to enhance its market position and impact.