MENU OF ACCOUNTING SERVICES.
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Reconcile Bank Accounts
Reconcile Credit Cards
Journal Entries & General Ledger
Monitor Cash Levels
Cash Flow Analysis
Vendor Selection & Negotiation
Internal Financial Statements
Daily Cash & Sales Monitoring
Accruals & Prepaids
Monthly Financial Statements
Attestation Engagements - What in the world do these mean? In non-accounting speak, it means an engagement where we do a formal report for the end user. There are three types of engagements and they are ranked from low to high.
Highest Level of Assurance
The highest level is an audit. This is where we do independent verification and methodical testing and examination of items on your balance sheet and profit and loss statements. They are more intense than a review and include internal control testing, risk analysis, substantive testing, independent confirmation, etc. Audits are usually performed for compliance with loan covenants, grants, board fiduciary responsibilities, etc.
Limited / Middle Level of Assurance
The middle level is a review. In a review we perform inquiry and analytical procedures on the information we obtain. After those procedures are completed we put everything together into a reviewed financial statement. Reviews are usually required as part of bank covenants, grants, donor requirements, etc.
Lowest Level of Assurance
The lowest level is a compilation. This is where we take information provided from the client, rely on our understanding of accounting, the client and industry and put the required information into the form of financial statements. We do not audit or review these figures, we merely rely on the representations of management. These are good statements for basic mom and pop, boutique businesses and anyone wanting to obtain basis bank lending.
We stay up-to-date on all the regulatory and legislative developments so you don’t waste time and energy trying to make sense of all the accounting complexities. Contact us today and see how we can help you.