Financial Statements
Financial statements help owners and advisors make decisions.
We prepare Compiled Financial Statements. Businesses need Financial Statements for business decisions, regulatory reporting and other reporting requirements.
Who this is for
Businesses that need organized financial statements for owners, lenders, bonding, outside stakeholders, or other reporting requirements.
Common situations we can help you work through.
- Third party requested Financial Statements.
- Management needs clearer reporting than raw bookkeeping reports provide.
- The business must prepare for a regulatory audit or respond to a regulatory audit request.
- Owners and advisors need a consistent view of financial position and operating results.
Practical support tied to the decision in front of you.
- Compiled Financial Statements when appropriate to the engagement
- Organization of supporting schedules and records used in financial reporting
- Regulatory audit support and coordination when a regulatory audit is required
A clear process
Clarify the requirement
We confirm who will use the statements, the reporting period, deadline, and level of service requested.
Prepare the records
The underlying books, reconciliations, and supporting schedules are reviewed for readiness and open items are resolved.
Deliver and explain
The statements are completed under the agreed engagement and significant presentation questions are discussed with management.
Experience that connects tax rules with practical financial decisions.
- Former IRS experience when tax questions become difficult
- More than 40 years serving Houston-area clients
- Year-round perspective beyond filing a tax return
- Direct conversations with an experienced CPA
Frequently asked questions
What is the difference between a compilation, review, and audit?
They provide different levels of assurance and require different procedures. The correct engagement depends on what the lender, regulator, owner, or other user requires.
Can bookkeeping records be used directly?
They are the starting point, but accounts generally need to be reconciled and adjusted before dependable financial statements can be prepared.
How early should we prepare for a lender deadline?
As early as possible. The schedule depends on the condition of the books, the reporting period, and the level of service required.