Glenn, Prather & Company

Glenn, Prather & Company is a CPA firm serving individuals and businesses from offices in Midland, Texas and Cedar Park, near Austin. The practice traces its roots to 1978, when native Midlander Mary Glenn, CPA, began working with small business owners, and small business advisory work has remained its center. Oil and gas is one of the industries the firm names among its service areas.

The firm describes its focus as strategic planning, accounting and taxation for small business owners, built on close client relationships. It characterizes the work as assuring the reliability of financial records, evaluating financial procedures, and producing strategies for business planning and execution.

Accounting and tax services

• Preparation of financial statements, compilations and reviews
• Tax management services, plus IRS and state representation
• Bookkeeping and business process outsourcing (BPO)
• Payroll services
• QuickBooks accounting help and assistance
• Estate and trust planning and tax preparation

Accounting support covers initial accounting system setup, record-keeping and reporting, budgeting, tax planning, investments, and employee benefit and profit-sharing plans. Financial and retirement planning, cash flow and budgeting analysis, and financial projections and forecasts are also offered.

Assurance and advisory

Advisory work is presented as objective analysis intended to help control costs, increase efficiency and implement new technologies and procedures. Named services include:

• Accounting software selection and implementation
• Business valuation
• Mergers, acquisitions and sales
• Transaction structuring and negotiations
• Business succession
• Entity selection and restructuring
• Debt and finance advising
• Litigation support

Firm background

Mary Glenn was educated through the Midland Independent School District and Midland College before graduating from The University of Texas of the Permian Basin, and later returned to Midland College as a part-time accounting instructor. She volunteered with the Midland College Business & Economic Development Center for more than a decade and developed its Small Business Seminar Series. Floyd Prather, CCP, CPA, has worked in software application development since the late 1970s, beginning with IBM mainframe systems and continuing through the early years of the IBM PC.

The firm also publishes reference material covering tax rates, filing due dates, a record retention guide, an archive of IRS forms and publications, financial calculators and a glossary of financial terms. Client portals handle document exchange and payroll access.