SYRACUSE — Syracuse–based accounting firm Dermody, Burke & Brown, CPAs, LLC (DB&B) has started an agribusiness-services group. It’s an area that the firm has serviced “indirectly for a number of years,” says David Corey, Jr., principal at Dermody, Burke & Brown and leader of the agribusiness-services group. “As the size of these operations has grown […]
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SYRACUSE — Syracuse–based accounting firm Dermody, Burke & Brown, CPAs, LLC (DB&B) has started an agribusiness-services group.
It’s an area that the firm has serviced “indirectly for a number of years,” says David Corey, Jr., principal at Dermody, Burke & Brown and leader of the agribusiness-services group.
“As the size of these operations has grown over the years … it’s become apparent that there is a greater need for a higher level of services than there has been in the past,” Corey adds.
The firm formalized the service group in mid-September, says Erica Muscatello, marketing manager at DB&B. Muscatello joined Corey for the CNYBJ interview on Oct. 12.
The firm also cited a section of the website of Empire State Development (ESD) as a reason for servicing the agribusiness sector. That section is titled “Agribusiness keeps growing in New York State thanks to resources and research.” ESD is New York’s primary economic-development agency.
The “Key facts” section of the page indicates that 36,000 farms produce New York State’s “vast array” of raw products to be used in food and beverage production. Additionally, the Empire State is the second-largest producer of apples and maple syrup; second in cabbage and snap beans; third in grapes, grape juice, and wine; and fourth in pears, according to the web page.
Corey says the new service group will be staffed by a mix of existing employees and new hires.
DB&B hired an accountant earlier this year who had experience in dealing with matters pertaining to agribusiness clients, according to Corey.
Dermody, Burke & Brown has between 50 and 100 agribusiness clients, according to Corey. Agribusiness clients could include dairy farms, beef farms, swine and hog farms, apple orchards, distilleries, wineries, vineyards, and breweries.
They seek assistance in marketing their products; accounting for operating results; filing and paying taxes; federal and state regulations, risk management, and operations management
For its agribusiness clients, DB&B provides accounting audit and tax services that include accounting and bookkeeping services, financial-statement preparation, business-tax preparation, compliance and planning, individual tax preparation and planning, payroll services, and consulting, according to its website.
Corey says it’s “too early” to provide a revenue-generation target for the agribusiness-services group.
With offices in Syracuse, Auburn, and New Hartford, Dermody Burke & Brown describes itself as “one of the largest independently locally-owned accounting and business advisory firms in Central New York.” It has been serving the Central New York business community since 1956.