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Jerome Goodman, MBA, CPA, CVA
Certified Public Accountant
Certified Valuation Analyst
Certified Public Accountant, President and Shareholder, Flackman, Goodman & Potter, Professional Association, Ridgewood, NJ 1956-present
During this period the firm grew from a proprietorship performing primarily write-up and tax services to a firm with six partners and a staff engaged in all facets of the public accounting profession.
Management Services
Diverse experience in providing businesses with integrated accounting, tax and management advise in the areas of operations, business planning, financing and other matters. Frequent sounding-board for listening to and evaluating owner-manager's business alternatives.
Preparation of business valuation reports to value businesses for various purposes, including shareholder negotiations of buy-sell agreements, potential purchase or sale of a business, and estate or gift tax reporting.
Advisor throughout all phases of business acquisitions. This has included advising clients on the appropriateness of acquiring a particular business, the conduct of thorough acquisition investigations ("due diligence") tailored to specific circumstances, the preparation of financial forecasts and projections to support investor and third party financing of a business acquisition, participation in business negotiation transactions, and other advisory services with regard to the structure and completion of business acquisition.
Frequent speaker on accounting, tax and management related subjects to business and professional organizations.
Accounting Services
Responsibility for the completion of various levels of reporting: audit, review, and compilation. Clients have included manufacturing, distribution (wholesale and retail), service and construction businesses. These clients have engaged in business in many states as well as several countries in Europe and South America. Present clients range in size from individual professional practitioners to manufacturing operations of $50 million.
Considerable experience in the use of financial statements and supplementary supporting data through explanation of their meaning in non-technical terms to owners, managers, and bankers. Representation of clients before bankers and other third parties requiring financial information.
Tax services
Responsibility for the preparation and filing of federal and state corporate, partnership and individual income and other tax returns. Responsibility for ensuring that clients meet all tax filing and payment obligations.
Extensive experience in counseling corporate and individual clients on the tax consequences of various actions. Assisting corporate clients in selecting the most appropriate form of operation. Completion of corporate reorganizations including mergers, spin-offs, and liquidations.
Representation of corporate and individual taxpayer clients before federal and state tax authorities.
Assist individuals and family owned closely held businesses with financial and estate planning. Advise on the generational transfer of business ownership and management. This frequently involved conservation of family assets through coordinated actions to reduce income, estate and inheritance taxes.
Individual and family financial planning, including retirement planning and advise on investment asset allocation.
Director, Ridgewood Savings Bank, Ridgewood, NJ 1989-present
Audit Committee (Chairman), Asset and Liability Management Committee (ALCO), Strategic Planning Committee
Served as director and committee member during the Bank's emergence from the Savings and Loan and banking crisis years of the late 1980s and early 1990s. During this period a new management team was selected, new policies were adopted for all areas of concern, and the Bank's charter was changed from a State Savings and Loan to a State Savings Bank. The Audit Committee was formed to oversee external, internal, and compliance audit functions. The ALCO was formed to assume responsibility for monitoring asset and liability management and interest rate risk. The Strategic Planning Committee examined short and long range alternatives. A broad spectrum of banking experience was gained by active participation in each of these events. This education was validated and enhanced through attendance at several banking seminars and a bank mutual fund conference.
Supply Officer, U.S. Navy, 1959-1963
Completion of the U.S. Navy Supply Officer's Course. Supply Officer of the USS Lloyd Thomas (DD-764) in charge of all supply functions aboard ship. Auditor with the Navy Audit Office in New York performing internal audits of the Naval shipyard, supply center and disbursing audit of ships. Attained the rank of Lieutenant.
EDUCATION
New York University, Master of Business Administration (with distinction), 1965
University of Pennsylvania, Wharton School of Finance and Commerce, Bachelor of Science in Economics, 1958
Numerous professional courses in accounting, auditing, taxation, business valuation and management
PROFESSIONAL MEMBERSHIPS
American Institute of Certified Public Accounts
New Jersey Society of Certified Public Accountants
National Association of Certified Valuation Analysts.
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