It does not matter what size business you have, good record keeping and accurate financial statements are very important. This information can help you control costs, manage inventory, assess equipment purchase needs, and plan for the future. Hagen CPA offers prepared financial statements, compilations, reviews, and other bookkeeping services to help you improve the quality of your financial reporting.
A financial statement compilation is a report created to assist management of a business in presenting its financial statements, which includes a balance sheet and income statement. Hagen CPA can compile your financial data on a monthly, quarterly, or annual basis to produce compiled financial statements if that is what you need. We can also assist with bank reconciliations, credit card reconciliations, accounts payable, accounts receivable, and more bookkeeping services that will prepare your financial data for compiling financial statements.
Lenders, creditors, and other entities may require some level of assurance that financial statements are in compliance. Hagen CPA can complete a financial statement review to provide limited assurance that there are no material modifications that need to be made to a business’s financial statements for them to be in conformity with the applicable financial reporting framework. A review saves on the cost of a full audit for businesses whose lenders will accept this approach.
Hagen CPA also offers agreed-upon engagements to assist your business. An agreed-upon procedures engagement can be performed to evaluate and report on specific subject matter based on the needs of your business. Some situations in which an agreed-upon engagement may be beneficial to your business include an evaluation of internal controls, cash balance verification, compliance with specific terms of an agreement, or due diligence related to buying a business. Please feel free to contact us for all your financial statement and bookkeeping needs.