Fouts & Morgan is a firm of Certified Public Accountants who provide audit, tax, management advisory services, and bookkeeping services primarily in Memphis and the surrounding communities in Tennessee, Arkansas, and Mississippi. The Firm was organized in 1970 by Jimmie D. Fouts and Don W. Morgan as a professional corporation. Douglas A. Garner and J. Donald Short were admitted as partners in the Firm in 1989. Michael T. Odom was admitted as a partner in 1999, and Randal L. Gregory was admitted as a partner in 2000. These partners direct the operations of four departments - audit, tax, management advisory, and local business services. Our staff is currently comprised of approximately thirty professionals, paraprofessionals, and support personnel.
In order to insure and verify the quality of services and products provided to our clients, the Firm underwent an initial peer review in September of 1987. The most recent peer review was completed in October of 2009. A copy of the reviewer's unqualified opinion letter is available for review at the Firm's office.
Fouts & Morgan is a member of CPAmerica International, an exclusive, worldwide association of accounting firms. CPAmerica was founded for the purpose of pursuing excellence in the field of public accounting and to assist its members in providing the highest quality accounting, tax and management consulting services. CPAmerica membership enhances our philosophy of taking our clients' responsibilities seriously. It gives us the resources to compete with larger national firms while retaining a local commitment to quality and personal service.
The Firm has always been very diversified in the professional services provided to clients. Our experience includes work with banks, construction companies, distributors, motels, non-profit organizations, municipalities, medical practices and other healthcare facilities, and jobber/broker-type businesses. Our commitment to understanding the needs of each industry in which we work has resulted in a continued growth of our client base.
A primary goal of Fouts & Morgan, CPAs is to meet the tax needs of our clients. The positive results of tax planning and personal financial planning are continually emphasized to all of our clients. Because we believe that a professional staff should have a comprehensive knowledge of income taxes for individuals and businesses, our entire professional staff works with income taxes. Continuing professional education programs and publications keep our staff abreast of current tax laws and cases.
Many of the management advisory services needed by clients are often the results of changes in their business environment or the general economy. These services include analysis of accounting system and procedures, cost analysis, budgets and forecasts, assistance in purchasing or selling a business, assistance in mergers or dissolutions, design of employee benefit plans, estate and trust administration, and accounting personnel selection.
The Local Business Services Department staff of bookkeepers and data processing personnel prepare financial statements, payroll and sales tax returns, payrolls, accounts receivable, accounts payable, and job cost reports. The services performed vary to meet the needs of each client, giving them freedom from the expense and problems of in-house personnel.