Accounting and Attestation
Our Nashville CPA firm offers preparation of compilation and review of financial statements. We prepare financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for use by banks, investors, and other third parties. Our firm will also prepare custom financial reports for internal, managerial use.
Our attestation services include:
The process of a review report begins with looking at your company’s ledger accounts, the subtstantiation of the amounts and calculate your financial standing. It provides limited assurance of your business and is less than a full examination of company’s financial statements but it is enough to validate the integrity of your data. Additionally, the reviews identify any items requiring further adjustments . Banks, the state contractors board or insurance companies may request a review report, and it provides a higher level of assurance than compilation reports.
Compilation reports provide the necessary background information needed for basic financial purposes but does not provide the same level of assurance as review reports. It consists of compiling your business’ books and records, without substantial procedures, to produce a brief summary of your company’s financial standing. Think of it as a general representation of your business’ management, mostly used for internal purposes. Compilation reports are often used to adjust accounting records as for internal purposes.
At our Nashville CPA firm, Sunil Kawatra CPA CVA , we help you decide which type of report your business needs, and complete the report with accuracy and attention to detail.