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Financial
Statement Services:
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Audits
Reviews
Compilations
Bookkeeping and payroll accounting services
Agreed-upon procedures engagements
Internal control evaluation
Operations review
Compliance audits and attestation
Employee benefit plan accounting and auditing
Personal financial statements
Forecasts and projections
Other attest services |
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- Audits
An audit is an engagement where a CPA provides an opinion about the
fairness of a financial statement presentation in accordance with a
comprehensive basis of accounting such as: generally accepted
accounting principles, cash basis or income tax basis.
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- Reviews
A review engagement is a service where an accountant provides
"limited assurance" (but not an opinion) that financial
statements do not require material modifications in order for them
to be in conformity with a basis of accounting. The accountant
performs analytical procedures and inquiries of entity management to
obtain a reasonable basis for the limited assurance.
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- Compilations
A compilation is a service where the accountant presents, in the
form of financial statements, information that is the representation
of management (owners) without undertaking to express assurance on
the statements. At management's election, the financial statements
may be prepared with substantially all disclosures omitted.
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- Bookkeeping and Payroll
Accounting Services
We provide complete bookkeeping and payroll services for small to
medium-sized firms. This includes, but is not limited to, business
property tax statements, sales tax returns and
monthly/quarterly/annual bookkeeping. Our staff includes
QuickBooks Certified ProAdvisors, and we help integrate
QuickBooks
into our client's successful fiscal management systems.
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- Agreed-Upon Procedures
Engagements
This service is one where you engage us to issue a report of
findings based on the performance of specific procedures. The scope
of procedures can vary widely based on your needs and what you
believe is appropriate.
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- Internal Control
Evaluation
An organization's system of internal control includes five
components: the control environment, assessment of risk, control
activities, information processing, and monitoring. Most
organizations have both formal and informal activities within these
five areas. Our service can range from fine-tuning a specific part
of your operations to a thorough evaluation of your system's overall
design and operating effectiveness.
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- Operations Review
The objective of an operations review is to evaluate and recommend
improvements in:
- Overall operations
- A segment of operations or
- Specific processes within a segment
- In a typical engagement, which can be more than just looking
at the financial picture, we start by helping you define your
desired state of operations (i.e., where would you like to be.)
Then we assess the current conditions (i.e., where are you now.)
Through an interactive process, we help generate ideas for
improvements, evaluate the best solutions and provide you with
support during implementation of the solutions. To the extent a
particular solution requires new training, we can help with that
training or offer recommendations for other qualified trainers.
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- Compliance Audits and
Attestation
The product of this service is a report on an entity's compliance
with requirements of specified laws, regulations, rules, contracts,
or grants. It can also include reporting on the effectiveness of an
entity's internal control over compliance requirements. Compliance
requirements may be financial or non-financial in nature. A common
example is a government's compliance with laws and regulations under
Government Auditing Standards. Another is an entity's compliance
with provisions of an agreement or contract.
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- Employee Benefit Plan
Accounting and Auditing
Our service includes audits, reviews or compilations of 401(k) or
other defined contribution plans, defined benefit pension plans,
health and welfare plans, defined contribution plans, and others.
Our available services also include preparation of Form 5500 and
assistance with various aspects of record keeping.
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- Personal
Financial Statements
Sometimes called a statement of net worth, these are financial
statements of an individual and/or spouse. The financial statements
are prepared using the fair market value of the individual's assets
and liabilities. Personal financial statements may be audited,
reviewed or compiled.
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- Forecasts and Projections
These engagements present prospective information in the form of
financial statements. A forecast is a prospective financial
statement based on assumptions that are believed to be the most
likely to occur. A projection, on the other hand, is prospective
information that is based on a "what-if" scenario, but not
necessarily the most likely scenario. Different levels of reporting
assurance is available for each form of information.
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- Other Attest Services
An engagement where a CPA is engaged to issue a written
communication that expresses a conclusion about the reliability of a
written assurance that is the responsibility of another party. We
provide these services to small- and medium-sized private businesses
and non-profit organizations in many industries.
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