Awards and Honors, Business, Free News Articles, Taxes and Accounting

KROST Named 2022 Top 100 Firms by Accounting Today

PASADENA, Calif. -- KROST was recognized as a Top 100 Firm by Accounting Today. The firm ranked 76th with a 18.08% change in revenue from last year. KROST has now been ranked in this prestigious list two years in a row. With new services on the horizon, KROST continues to develop ways to add value for their clients. Their new services include, KROST Business Intelligence Solutions (Data Analytics), Environmental, Social, and Governance (ESG) Reporting, and Consulting, and Client Accounting Services (CAS).

"It's an honor to be ranked once again by Accounting Today and to be among the 12 other PrimeGlobal firms on the list. We are fortunate to have a dedicated team that contributes to our continued growth and success," said Jason Melillo, CEO, KROST.

"PrimeGlobal is delighted that 13 North American member firms are included in Accounting Today's Top 100 Firm List 2022. With more entries than any other global association, PrimeGlobal continues to top the table for the network or association with the most members in the Top 100." - PrimeGlobal.

Accounting Today's Top 100 Firms and Regional Leaders is an annual ranking that recognizes the largest tax and accounting firms by revenue, both nationwide and in specific regions. KROST is recognized as a regional leader in the west, which has the highest average growth rate of all the regions.

Learn more about KROST's services: https://www.krostcpas.com/services

For more information about KROST's awards and recognition, visit: https://www.krostcpas.com/awards

ABOUT KROST CPAS & CONSULTANTS:

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers & acquisitions, and wealth management.

Related link: https://www.krostcpas.com/

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Awards and Honors, Business, Free News Articles, Taxes and Accounting

KROST Recognized by Los Angeles Business Journal as among Top Accounting Firms for 2022

PASADENA, Calif. -- KROST was recognized as one of Los Angeles Business Journals' Top 100 Accounting Firms in Los Angeles County, with 78% growth in revenue between 2020 and 2019, the firm is ranked 22nd on the list. KROST received this recognition during the Los Angeles Business Journal's Disruptor Awards virtual event.

"Our firm is honored to be recognized by the Los Angeles Business Journal yet again. We owe our success to our passionate, talented, and hardworking team members. We hope to continue our growth and success in the coming years," said Jason Melillo, CEO, KROST.

Each year, the Los Angeles Business Journal publishes the annual Book of Lists. The lists are comprised of companies across several industries and include details like size, revenue, top executives, and more. LABJ editorial and research teams provide in-depth analyses of the community's dynamic business and economic scene.

Learn more about KROST's services: https://www.krostcpas.com/services

For more information about KROST's awards and recognition, visit https://www.krostcpas.com/awards

ABOUT KROST CPAS & CONSULTANTS:

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers & acquisitions, and wealth management

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

KROST CPAs & Consultants Announces Greg Kniss as Chairman of the Board, Jason Melillo as CEO and Keith Hamasaki as Principal of Assurance and Advisory

LOS ANGELES, Calif. -- Los Angeles-based CPA Firm, KROST CPAs and Consultants announced that Greg Kniss has been appointed to Chairman of the Board, Jason Melillo promoted as the new CEO, and Keith Hamasaki to Principal of Assurance & Advisory services.

Greg Kniss has been actively involved with the firm's business consulting and tax practice for nearly 40 years and has grown the firm from just a few members to now over 270 members. Through his leadership and guidance, the firm has been awarded Best of the Best and Top 100 firm for the last five consecutive years. KROST is proud to appoint Greg from Managing Principal to Chairman of the Board.

"We are grateful for Greg's leadership, and I hope to follow his footsteps to continue to grow firm with the same entrepreneurial spirit and progressive culture," said Jason Melillo, CEO of KROST.

Stepping in as the new CEO, Jason Melillo brings a tremendous amount of institutional knowledge with over 25 years at the KROST. As the previous Principal of the Accounting, and Advisory & Assurances Services team, his areas of expertise include foodservice, manufacturing, real estate, retail, as well as technology and professional services industries. Jason is a recognized as an industry speaker and has been a lecturer to large organizations such as the California Society of CPAs, the American Institute of CPAs, and organizations such as the California Restaurant Association.

"I am very excited for Jason to start his journey as the new CEO of KROST. His dedication to the firm gives me no doubt that he will take KROST to next level," said Greg Kniss, Chairman of the Board.

Following suit, Keith Hamasaki has been promoted to Principal of the firm's Assurance and Advisory practice. With over a decade of consulting experience, Keith specializes in audit and business advisory services to emerging and middle market companies. As an active member of the community, Keith has been a recurring Selection Committee Member for the Los Angeles Business Journal's CFO of the Year Awards and is on the Professional Advisory Board for Accounting Curriculum at Pasadena City College and Glendale Community College.

"I'm most proud of Keith's contribution to the profession. He has been instrumental in leading the A&A practice and has taken an active role in our campus recruiting and mentorship program to ensure a diverse and inclusive firm culture," said Jason Melillo, CEO.

About KROST

Established in 1939 in Pasadena, California, KROST, is a full-service Certified Public Accounting and Consulting firm serving clients across various industries. Their focus is recognizing opportunities and creating value for clients by equipping them with the tools to make better business and financial decisions for the future. As trusted advisors, clients depend on KROST to provide timely information, innovative solutions, and result-driven teamwork to ensure success. Along with provide traditional services as Tax, Accounting, Assurance & Advisory, KROST provides special services including Client Accounting, Mergers & Acquisitions, Wealth Management, Tax Specialty Services and KROST Business Intelligence/Data Analytics.

Learn more at: https://www.krostcpas.com/.

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Business, Free News Articles, Taxes and Accounting

KROST Posts Record Year of M&A Advisory in 2021, Expects Trend to Continue in 2022

LOS ANGELES, Calif. -- KROST CPAs and Consultants reported a record year of M&A advisory work in 2021 and expects to remain equally busy in 2022. "We were involved in 21 buy-side and sell-side transactions in 2021," said Paren Knadjian, Head of M&A and Capital Markets at KROST.

"Most of the time as the exclusive financial advisor. We have also delivered a record number of due diligence reports, including Quality of Earnings reports, which we produce with our colleagues in the Audit department," Knadjian added.

KROST provides M&A expertise in valuation, deal negotiation, structuring, and financing, plus advice on the tax, accounting, and wealth management consequences of a transaction. "We provide both buy-side and sell-side advisory, and because we have experience in over 300 transactions, we know what current market acceptability is, and what is outside the scope of a transaction, depending on its size, industry, and structure. Outside of legal work, we can advise on virtually all aspects of an M&A transaction."

KROST led multiple $100+ million deals and worked in 6 different industries in 2021. Along with experts in Tax, Accounting and A&A practice areas, KROST has specialists in multiple industries including Healthcare, Manufacturing, Technology, Financial Services, and Entertainment. "We bring vertical as well as horizontal expertise," said Knadjian.

One of the transactions we worked on was the sale of Global Oncology to The Oncology Institute (NASDAQ: TOI). "The team at KROST were critical in our ability to navigate and complete this transaction," said Dr. Yang, the owner, and Chief Medical Officer of Global Oncology, "their experience and knowledge, on M&A matters, was vital throughout the process."

KROST was also the exclusive financial advisor in the sale of Integrity Bio to Curia. "We would like to thank the KROST team -they were invaluable in this transaction, and we relied on them enormously," said Michael Reilly, CEO of Integrity Bio.

"We expect to be as busy, if not busier, on M&A activities in 2022 as the dry-powder availability of Private Equity money, the accessibility and low cost of debt, for leveraged buy-outs, and the retirement/succession plans of the Baby Boomer generation, continue to be driving forces in deal-making in the current environment," said Jason Melillo, CEO of KROST.

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit https://krostcpas.com/.

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

KROST Acts as Exclusive Financial Advisor for Integrity Bio in Sale to Curia

LOS ANGELES, Calif. -- Integrity Bio, Inc., a privately held formulation and fill-finish organization headquartered in Camarillo, California, was sold to Curia (formerly Albany Molecular Research, Inc. (AMRI)), a Contract Development and Manufacturing Organization (CDMO) and leading global provider of advanced contract research, development, and manufacturing solutions. KROST, a Los Angeles-based firm, acted as the exclusive financial advisor to Integrity Bio in the transaction.

Integrity Bio is known in the biopharmaceutical industry as an expert in hard-to-formulate biologics and fill-finish of unique therapies for phase I and phase II clinical trials. Integrity Bio formulates more than 60 large molecules in a typical year, including proteins, antibodies, lipid nanoparticles, peptides, and vaccines in liquid and lyophilized form. Curia currently provides customers with integrated solutions from formulation development through fill-finish commercial manufacturing across three facilities. The acquisition adds West Coast operations to Curia's East Coast and overseas capabilities.

Integrity Bio has been a client of KROST for ten years, during which time KROST provided Tax, Accounting, Consulting, R&D Tax Credit, Cost Segregation, and now, Mergers and Acquisitions services. KROST's service model is designed to guide and support businesses throughout their lifecycle, from early-stage start-ups to succession and exit planning.

KROST's M&A practice is led by industry veteran, Paren Knadjian, who joined the firm in 2017. Knadjian has nearly 25 years of experience in mergers and acquisitions, equity and debt financing. He has closed over $1.5 billion in transaction value throughout his career. As the leader of the firm's technology industry niche, Paren also assists companies in the business of technology and life sciences innovation.

"We have been advising Integrity Bio, its owners and management team for over 10 years. So when they were considering a sale, they turned to us to help them with deal value, deal structure, due diligence, accounting and tax matters, and transactional support. This acquisition comes at a meaningful time for the country. The work that Integrity Bio is doing, and will continue to do as part of Curia, will contribute to life-changing cures for health issues, much like we experienced in the last year and a half. This acquisition is not just a transaction; it has a huge impact on people's lives across the globe. I am thrilled we were able to assist Integrity Bio with this transition into their next chapter and look forward to seeing what Curia will do with their added capabilities," remarked Paren Knadjian.

"We would like to thank the KROST team - they were invaluable in this transaction, and we relied on them enormously," said Michael Reilly, CEO of Integrity Bio. "As part of Curia, we can now offer our customers not only world-class formulation and fill-finish but also world-class commercial manufacturing."

For more information about KROST's mergers and acquisitions, as well as capital markets services, visit https://krostcpas.com/ or contact Paren Knadjian.

For information about this transaction, please contact:

Paren Knadjian

Practice Leader - M&A and Capital Markets

626.538.3167

paren.knadjian@krostcpas.com

ABOUT KROST CPAS & CONSULTANTS

KROST is a full-service Certified Public Accounting and Consulting firm headquartered in Pasadena, California. As trusted advisors and industry leaders, clients depend on KROST for timely information, innovative solutions, and results-driven teamwork in the areas of accounting, assurance, business management, consulting, tax, mergers and acquisitions, and wealth management.

Twitter: @KROSTCPAs

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

Los Angeles Based CPA Firm Announces New Principal, Stacey R. Korman, CPA, MST

PASADENA, Calif. -- KROST CPAs and Consultants, the Los Angeles based firm, has announced a new Principal, Stacey R. Korman, CPA, MST. Stacey has extensive experience in assurance & advisory and accounting services and since joining the firm she has led the accounting and audit departments.

As an AICPA certified Fundamental Client Accounting Advisor, Stacey leads KROST's Client Accounting Service (CAS) division. CAS not only provides customizable accounting services for each client based on their specific situation and needs, but goes beyond business management or outsourced accounting by providing proactive insights and data analytics. This advisory methodology ensures clients' accounting needs are predicted and exceeded as their business evolves and grows.

In addition to CAS, Stacey has developed the firm's Paycheck Protection Program Loans Forgiveness team in partnership with Paren Knadjian, Practice Leader, M&A and Capital Markets and Sossi Bekarian, CPA, Senior Manager, Accounting. Since April 2020, the team has developed a proprietary budgeting and forgiveness maximization tool, hosted numerous webinars, and published a wealth of thought leadership on the subject. To date, KROST has assisted hundreds of businesses through the emergency loan program from the application process to loan forgiveness.

Stacey is expertly versed in working with clientele from a wide range of industries, including management companies, real estate, technology, foodservice, and not-for-profits. She provides consulting and cash management services to high net worth individuals, management companies, and small businesses. She is also an integral member of the Sports & Entertainment and Financial Services industry groups.

"Stacey is an outstanding member of our firm, and we are proud to welcome her as a principal as it is well deserved. She is a trusted consultant to our clients, mentor to staff, and technical leader who has elevated the work we do. Her industry expertise and breadth of knowledge is a tremendous value to us and those we serve," said Jason Melillo, Senior Principal at KROST.

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit: https://www.krostcpas.com/.

MEDIA ONLY CONTACT
Diana Vu
Marketing Coordinaor, KROST
(626) 773-8282 (media only)
diana.vu@krostcpas.com

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Product Launches, Taxes and Accounting

KROST Launches PPP Loan Forgiveness Review Services for Borrowers and Lenders

PASADENA, Calif. -- Award-winning tax, accounting, and consulting firm, KROST, announced the launch of their PPP Loan Forgiveness Application Review Service for both Borrowers and Lenders. The services are intended to aid both borrowers and lenders by taking on the burden of calculating forgiveness values, checking that expenses conform to the SBA forgiveness rules, and ensuring that the underlying documentation verifies those expenses.

The PPP Forgiveness Review Service for borrowers includes reviewing the actual expenses incurred by the borrower during the covered period, calculating the forgiveness amount taking into account all the rules, reviewing and assembling the necessary backup documentation that is required, and creating an electronic binder that can be sent to the lender. The PPP Forgiveness Review Service for lenders includes, independently reviewing the actual expenses claimed by the borrower during the covered period, independently calculating the forgiveness amount, ensuring the documentation substantiates the claimed expenses, and reporting any errors or omissions.

Paren Knadjian, who leads the firm's M&A and Capital Markets practice and has a background in debt financing, and as a fractional CFO, has taken the lead on the KROST PPP Services.

"While the PPP loan program has been hugely successful at injecting capital into businesses suffering from the consequences of COVID-19, the rules and regulations surrounding forgiveness can be complex and burdensome. The KROST PPP Loan Forgiveness Review Service is aimed at assisting both borrowers and lenders to complete the forgiveness application process in an accurate, timely, and stress-free manner," said Paren Knadjian.

In addition to the PPP Forgiveness Services, the firm has also developed a COVID-19 Resource Center as a hub for businesses and individuals to access the latest tax, accounting, and HR news on the Coronavirus. Learn more: https://www.krostcpas.com/covid-19-resource-center

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit https://www.krostcpas.com/

FOR MORE INFORMATION, CONTACT:
Bethany Wolfe
Marketing Director
(626) 508-1792

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

KROST CPAs & Consultants Provides Much-Needed Help to Businesses Affected by the Economic Downturn Caused by the COVID-19 Pandemic

LOS ANGELES, Calif. -- Los Angeles-based firm, KROST CPAs & Consultants, has launched several programs to assist businesses during the Coronavirus pandemic. Since April 2020, the firm has assisted hundreds of businesses and individuals through the development of COVID-19 resources that have guided them through the process of choosing, applying, and qualifying for emergency loan programs. To date, the firm has helped more than 200 firms and sole proprietors apply for, and receive, more than $150 million in total loans.

KROST hosted two virtual webinars to provide insight into the EIDL and PPP loan programs - who can apply, what the terms of the loans were, how to apply, and how to use the proceeds once they receive funds. Now, the firm has launched the PPP Budgeting and Forgiveness Maximization Tool, a proprietary tool that allows users to plan, budget, and track expenditures on a week-by-week basis. The tool has all the current known rules on forgiveness programmed into it.

Paren Knadjian, who leads the firm's M&A and Capital Markets practice and has a background in debt financing, and as a fractional CFO, has taken the lead on the emergency loan programs. He, along with a team at KROST, developed the PPP tool with KROST clients in mind.

"From day one, we used our role as trusted advisors, to keep our customers informed of the detailed terms of these government-backed loans and helped many of them with the application process. Now that many of them have received the funds, we are guiding them through best practices on the use of proceeds and providing them with a proprietary tool to ensure they optimize loan forgiveness. The next step will be to provide them with the resources necessary, such as accounting and fractional CFO services, to ensure they emerge from business closures with a plan and a budget that maximizes their ability to make an economic recovery," remarked Paren Knadjian.

In addition to the emergency loan forgiveness assistance, the firm also developed a COVID-19 Resource Center as a hub for businesses and individuals to access the latest tax, accounting, and HR news on the Coronavirus. Learn more: https://www.krostcpas.com/covid-19-resource-center

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit http://www.krostcpas.com/

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

KROST Kicks Off the Year by Announcing Merger with BPE&H an Accountancy Corporation

PASADENA, Calif. -- KROST CPAs and Consultants, a firm based out of Los Angeles, has merged in BPE&H out of Woodland Hills effective January 1, 2020. Seven principals will join the leadership team at KROST, including Scott Eisner, Martin Belak-Berger, Bob Price, Phil D'Amico, Scott Gilmore; and founding BPE&H principals Jerry Block and Jane Plant. With the addition of 30 team members total, KROST's practice will expand to 200 team members firmwide and grow its presence in the thriving Woodland Hills area.

The new KROST management and staff will remain at the 21300 Victory Boulevard office until next summer when the two Woodland Hills office locations will move into a new space together. KROST has locations around the Greater Los Angeles area, including offices in Pasadena, West Los Angeles, Valencia, and Woodland Hills.

"Joining with KROST makes sense from a resource standpoint. We now have in-house recruiting and other corporate support systems to alleviate workload on our leadership so we can spend more time with our clients. The firm's industry task forces are also a great complement to our manufacturing and real estate expertise. Overall, we are thrilled about this new chapter and ready to hit the ground running," remarked former BPE&H Principal, Martin Belak-Berger.

"Merging with BPE&H made sense for us on several levels. Their mission and vision, as well as dedication to superior customer service, resonates with our core values and the principles that we stand by here at KROST. Our tax, accounting, and advisory teams will benefit from the added resources; all of which will allow us to continue to support our clients," said KROST's Managing Principal Greg Kniss.

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit https://www.krostcpas.com/.

Related link:

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