Compiled Financial Statements
It is very important for companies to have complete and accurate financial statements in order to see exactly how the company is performing. Financial statements prepared by a CPA provide the details and footnotes that are not provided by standard software applications. Shareholders and board members use financial statements for business planning. Normally a compilation is a presentation of information prepared by management. We go a step further than that. At Fitzpatrick & Tucker, we get the backup information for every number on the balance sheet.
Reviewed Financial Statements
Many companies need reviewed financial statements rather than compiled to provide to the bank for a loan, to receive a construction bond, or various other reasons. Reviewed financial statements provide a higher level of assurance than compiled financial statements. It is also less complicated and less costly than an audit. A CPA is required to perform analytical procedures to provide limited assurance that the financial statements are free of material misstatements and comply with accounting principles.
Aside from our tax preparation and accounting, we provide a variety of business consulting services. There are so many decisions business owners have to make on a daily basis. We can help make those decisions a bit easier. Even something as simple as choosing a payroll service can have a big impact on your business. As businesses grow they may find a need to change to a different type of entity. We make sure that our clients are well informed about their options and what would work for them so they can make the best choices for their business. Even if a business hasn’t been started yet, we can help to provide the information needed to be prepared for a strong business launch. We work with our clients throughout the year with tax planning and consulting to make sure there are no surprises at year end.