Compilation and Review Services
AFC offers businesses in South Florida thorough Compilation and Review Services. Compilation and Review Services lend credibility to your business’s financial statements without necessitating an invasive auditing process.
What Are Compilations And Reviews?
Compilations and reviews are accounting services that are separate yet interrelated.
A compilation is a collection of your financial reports presented with a cover page written by a CPA. The CPA performs a cursory look-through on basic elements of your financial report to write the cover letter, which gives a limited amount of assurance of your financial reports.
During the review process, a CPA combs through your financial statements to identify accounting errors or misstatements and analyze balances to determine expectations going forward.
A review is similar to an audit, although not as invasive, and provides additional credibility to your financial statements.
Reasons To Obtain Compilation And Review Services
There are several reasons to obtain Compilation and Review Services for your business.
Benefits For New And Small Businesses
New and small businesses do not typically have the in-house staff with the knowledge or time to perform compilations and reviews. Foregoing financial reporting can lead to chaotic accounting and unnecessary losses. Therefore, working with an outsourced company such as AFC is a good idea to ensure your company’s finances are in order.
Credibility Without Audit
Audits can be an invasive and intensive process. Public companies require audits; however, if you own a private business, an ideal solution may be Compilation and Review Services from AFC. With our Compilation and Review Services, your business financial statements are compiled and reviewed by certified CPAs, which gives you more credibility and oversight.
Need A Line Of Credit Or Investors
Compilation and Review Services provide a level of credibility to your financial statements. Although audits are the gold standard, they are an expensive and involved process; therefore, obtaining a Compilation and Review Service is an excellent first step that shows lenders and investors you are operating efficiently.
Long-Term Business Planning
With AFC’s Compilation and Review Services, you’ll have financial records and reviews you can use as your business grows and changes. The review process provides insights into your company’s financial data, which you can use to lean into areas that benefit your bottom line the most. This helps you develop a business plan for success.
Our Compilation And Review Services
AFC’s Compilation and Review Services are based on our adherence to professionalism and accounting standards set forth by the American Institute of Certified Public Accountants (AICPA). We follow the guidelines presented in the Statements on Standards for Accounting and Review Services (SSARS) to give your business thorough, detailed, and accurate compilations and reviews.
Our Compilation Services Include:
Gathering company financial data from management
Structuring the data into financial statements
Utilizing our expertise to correctly format the data for your industry
Our Review Services Entail:
Reviewing financial data to identify accounting errors
Making inquiries related to your business’s accounting practices
Analyzing prior and current year balances to determine expectations
Additional Accounting And AFC Services
Get Accurate Financial Compilations And Reviews
If you want your financial statements to gain credibility with lenders or need an accurate overview of your company’s financial operations to understand how they affect your business, obtain Compilation and Review Services with AFC. Call (561) 336-5755 or email AFC’s Principal at email@example.com to find out how our Compilation and Review Services can give your business a solid financial base from which to grow.