Manufacturing Accounting Case Study – Polykote Corp.
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Manufacturing Accounting Case Study – Polykote Corp.

August 12, 2019

Polykote has been in existence for 25 years and we are a specialty coating company. We develop and produce specialty coatings for various papers, films, fabrics – mostly used in the packaging industry. The relationship I have with Concannon is relatively new. We’ve been working together for about a year and a half, and we are starting to explore all of the different personnel that they have and how they might help us. They have a great staff and a very wide knowledge in many different areas. And we have a team approach when we work with our clients. So we may have a senior person working with that client that’s an accounting and auditing specialist. We’ll have a tax specialist working with them so that there’s not one point of contact and they can leverage our experience that we put the best person that can help them achieve their goals and objectives. Where we come in is we look at not just the historical information, but we try to get an idea of where the company is going and use that forward-thinking knowledge to help them strategically get to where they want to be. There is a lot of opportunity for a manufacturing client from the tax side, and if they’re not taking advantage of it, they should talk to somebody who can help them do it. We are in the process of a very large expansion where we’re beginning to double our our building size as well as adding manufacturing capacity and doubling our workforce, as well. Concannon has helped introduce us to a variety of state and local government tax incentives and credits, as well as federal R&D Tax Credits, which I think will allow us to continue to expand. I think it would be beneficial for other manufacturing companies to work with Concannon Miller as they have such a varied and experienced staff in many different areas, and help manufacturing groups explore all the different paths to improve their process and business model.

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