Tee up success with experts in golf course accounting.
With more than 20 years of experience in golf course accounting for private clubs and courses throughout Minnesota, we understand the unique challenges you face.
We know managing a private golf course or club is not always a smooth drive down the fairway. Sometimes it may even feel like you’re stuck in the rough. As a CPA firm that specializes in golf course accounting, we can help you tee up a bright future.
Work with an accounting firm that has a passion for golf courses.
Yes, it’s true! As avid golfers, we care greatly for the environment and proper course management. We are proud members of the Upper Midwest Chapter of the Club Managers Association of America (CMAA) and regularly share our expertise with members.
Because of our involvement, we understand that many golf clubs race rising operational costs and opposition from members for increases to monthly dues or additional assessments. Whether we’re providing a full audit or focused review, we take a close look at your processes to determine which areas could be improved upon or streamlined. Our goal is to create cost savings that can be used to enhance your members’ experience.
We are golf course accountants who can help you mitigate the risk of fraud.
Having provided golf course accounting for clubs and courses throughout Minnesota, we understand that clubs must often rely on one person to handle the organization’s accounting functions. Implementing checks and balances when handling cash and inventory accounts is critical especially when your accounting staff numbers one. To help you mitigate your risk of fraud and catch issues early on, our team led by a Certified Fraud Examiner (CFE) can assist your golf club in creating and implementing sound processes and procedures.
How could fraud impact your golf club or course?
According to the Association of Certified Fraud Examiners (ACFE), a typical organization loses 5 percent of revenues in any given year as a result of fraud. This equates to upwards of $500,000 per year for an organization with $10,000,000 in annual revenue. Asset misappropriation, which is when an employee fraudulently uses a company’s assets for personal gain, is by far the most common type of fraud. As such, asset misappropriation occurs in more than 83 percent of cases and causes a median loss of $125,000. Unfortunately, most instances of fraud last for several years before they are uncovered. In more than 90 percent of the cases reviewed by the ACFE, the perpetrator went to great lengths to conceal the theft.
Hit a hole-in-one with PWB as your golf course accountant.
In light of the industry’s challenges and risks, it’s important to make sure your accounting is up to par. In addition to guiding you through the ever-changing world of tax, PWB can help you build efficiencies that will benefit your club for years to come.