Preparation of Financial Statements
We assist businesses with many accounting tasks and gathering of financial information, which is then summarized into financial statements. We can follow most basis of accounting including tax basis, and the cash, accrual and hybrid methods of accounting. We can follow the steps to conform financial statements and the underlying accounting with U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS). We can do this as of any date and for any time period, and for most industries.
There are relatively new standards that accountants must follow regarding the preparation of financial statements. There are also standards for compilations and reviews of financial statements. These standards, known as the Statements of Standards for Accounting and Review Services (SSARS) are established by the American Institute of Certified Public Accountants (AICPA). We are intimately familiar with SSARS and new pronouncements as published.