SERVICES

Your Business Matters

OUTSOURCED ACCOUNTING & BOOKKEEPING SERVICES

Decision making requires timely and reliable financial data. A business' strength and profitability are determined by analyzing and interpreting key financial metrics. We start with the fundamentals by providing outsource solutions to manage the day-to-day accounting while supplementing and overseeing current accounting functions.

Our approach is to automate where possible with the purpose of creating efficiencies and providing operational support to help you better effectively manage your business. We help business owners spend less time in the detail and more time focusing on growth.

We provide outsource accounting and bookkeeping services on a hourly, monthly, or quarterly basis tailored to your needs.

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• Traditional Bookkeeping & Data Entry

• Bank Reconciliation

• Accounts Receivable & Payable Automation

• Contract Management

• Cloud Accounting Integration & Optimization

• Transactional Accounting Services

• General Ledger Maintenance

AUDIT | REVIEW | COMPILATION

Audits, Compilations, and Reviews fall under assurance services. Stockholders, creditors, or private investors may have differing degrees of risk tolerance and may request/ require one of the three levels of assurance services we provide.

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Compilation - No Assurance

Compilation of financial statements is a service where the role of the CPA is more apparent to outside parties, and as such, the requirements for performing this service are more explicit. For example, if we are not independent from ownership, management and other circumstances in our relationship to you and your business, we are required to disclose the impairment to our independence in our compilation report.

The compilation report is the first page before the actual financial statements and is written by a CPA on our firm’s letterhead. We are also required to read the financial statements in light of the financial reporting framework being used and consider whether the financial statements appear appropriate in form and are free from obvious material misstatements.

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However, we do not obtain any assurance for a compilation because we are not required to verify the accuracy or completeness of the information provided or otherwise gather evidence for the purposes of expressing an audit opinion or a review conclusion.

The compilation report states that we did not audit or review the financial statements and accordingly do not express an opinion, a conclusion or provide any assurance on them.

A compilation is typically appropriate when initial or lower amounts of financing or credit are sought or there is significant collateral in place. Though no assurance is provided, outside parties may appreciate your association with a CPA, which is readily apparent in the formal compilation report.

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Review - Limited Assurance (No-opinion)

The review service is one in which the CPA performs analytical procedures, inquiries and other procedures to obtain “limited assurance” on the financial statements and is intended to provide a user with a level of comfort on their accuracy. The review is the base level of CPA assurance services.

Similar to a compilation, we are required to determine whether we are truly independent. If we determined that we are not independent, we cannot perform the review engagement.

In a review engagement, we are required to understand the industry in which you operate — including the accounting principles and practices generally used in the industry. We are also required to obtain knowledge about you — including your business and the accounting principles and practices that you use — sufficient to identify areas in the financial statements where it is more likely that material misstatements may arise.

A review is substantially narrower in scope than an audit. A review does not contemplate obtaining an understanding of your business’s internal control; assessing fraud risk; testing accounting records through inspection, observation, outside confirmation or the examination of source documents or other procedures ordinarily performed in an audit.

In a review engagement, we will issue a formal report that includes a conclusion as to whether, based on the review, we are aware of any material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework.

A review typically is appropriate as a business grows and is seeking larger and more complex levels of financing and credit. It is also useful when you, as the business owner, are seeking greater confidence in your financial statements for the purpose of evaluating results and making key business decisions.

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Audit - Highest Level of Assurance (Opinion)

The audit is the highest level of assurance service that a CPA performs and is intended to provide a user comfort on the accuracy of the financial statements. The CPA performs procedures in order to obtain “reasonable assurance” (defined as a high but not absolute level of assurance) about whether the financial statements are free from material misstatement.

In an audit, we are required to obtain an understanding of your business’s internal control and assess fraud risk. We are also required to corroborate the amounts and disclosures included in your financial statements by obtaining audit evidence through inquiry, physical inspection, observation, third-party confirmations, examination, analytical procedures and other procedures.

When performing an audit engagement, we are required to determine whether our independence has been impaired. Similar to a review, if our independence has been impaired, we cannot perform the audit engagement.

We will issue a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework. In addition, we are required to report to you any significant or material weaknesses in your system of internal control that are identified during the audit. By becoming aware of internal control weaknesses and discussing these with us, you might be able to improve the way you do business.

As the highest level of assurance, an audit typically is appropriate and often required when you’re seeking complex or high levels of financing and credit. An audit also is appropriate if you’re seeking outside investors or preparing to sell or merge with another business.