Your company’s financial statements have implications in virtually every major decision that will be made in the life of your business. Having an experienced, licensed CPAs compile, review, or audit financial statements for your business is, simply stated, a smart business move. Our accountants provide two levels of service in rendering financial reports: compilation and review.
Compilation of Financial Statements
A compilation provides the lowest level of assurance. This is essentially a presentation of financial statements without analysis by a CPA and without an assurance that the information conforms with Generally Accepted Accounting Principles (GAAP). The accountants take the information provided by the company and put it into financial statement format.
Review of Financial Statements
A review is the middle level of service, and it provides limited assurance. The accountants take the information provided by the company, render it in financial statement form, and indicate whether the statements or supporting documentation require major modification to conform with Generally Accepted Accounting Principles. A review does not involve any examination of the assets of the company or the company’s internal procedures.
R. Barry Johnson & Company, P.C. Certified Public Accountants
1504 W Abram Street
Arlington, Texas 76013 - 1707