Preparation of Compiled Reviewed Financial Statements

Our team of accounting experts is highly trained in the area of financial statement preparation. We will provide you with whatever level of accounting assurance that you may require (compiled financial statement, compiled GAAP financial statement, or reviewed financial statement). The compiled financial statements we issue are usually prepared in response to needs of the owners and their banks to chart the financial condition of the company. This level of service includes an accountants’ opinion report stating that the financial statements have been compiled by our firm, lending more credibility than financial statements produced in-house.

Financial statements are a collection of all of the financial information (income and expenses in a given period), and include a balance sheet, income statement, cash flow statement, and sometimes a statement of shareholders’ equity and retained earnings. If you are a small business owner wanting to keep on top of your monthly operations, then a compiled financial statement is what you need. It provides you with all of the critical income and expense information to manage your business and make appropriate changes.

If you have bonding requirements or your lender wants a level of assurance from your accountants that is at a higher level than a compiled financial statement, a reviewed financial statement may be required. A reviewed financial statement has been subjected to a variety of informational analysis and is much more in-depth than a compiled financial statement.

If you have investors in your company or are looking to find investors, you may also need a reviewed financial statement. This includes making sure all of the financial information is accurate and adheres to the guidelines of generally accepted accounting principles (GAAP). You will find that investors require a reviewed financial statement, to ensure that the information contained has been analyzed and found to be accurate and true.

< Back to BHRS Accounting Services

Call us today at 913-491-5080 for more information on financial statements or any of our accounting services.