Financial Statement Analysis
Financial Statement Compilation Services
A compilation is an accounting service whereby an Accountant’s Compilation Report, signed by the CPA firm, is attached to a presentation of information in the form of financial statements based on information provided by the company.
A compilation does not offer assurance that the underlying financial information was reviewed or audited, but may involve some adjustment to the accounting records. Compilations can include or exclude notes to the financial statements and can be prepared according to generally accepted accounting practices or on another comprehensive basis of accounting (cash or tax basis reports for example).
Compilations are requested for a variety of internal or external purposes and rely on the company’s accounting information provided by the company’s management team.
Although no opinion will be expressed about the underlying information, the financial statements will be presented in conformity with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
Financial Statement Review Services
A Financial Statement review includes the compilation of the company’s financial statements with notes and additionally provides limited assurance to outside interests in an Accountant’s Review Report, signed by the CPA firm.
Analytical procedures are performed on the financial statements and we make inquiries of your company’s management team.
The scope of a review is substantially less than an audit; individual financial transactions are not verified in a review.
Although no opinion will be expressed about the underlying information, the financial statements will be presented in conformity with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
Financial Statements help individuals, businesses, and non-profits to make educated decisions related to the future operations; and are often required for approval of financing options. If you, your business, or non-profit group requires financial statements, analysis of those financial statements, or assistance with a review or compilation, the professional CPAs at J. Neel and company can help.