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Compilation
- A compilation is limited to presenting in the form of financial statements
(statement of operations, cash flows, and balance sheet) information that
is the representation of management (owners). We do not express an opinion
or any other form of assurance regarding the financial statements. Review - A review consists principally of inquiries of company personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Audit - An audit is conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. We conduct our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Business Valuation - A valuation engagement involves arriving at an opinion regarding the estimated value of an ownership interest in a business entity (company) as of a given point in time. The ownership interest valued may be the companys common equity (referred to as a net of debt value) or its total capital, which includes both interest-bearing debt and equity. Income Tax Planning - We offer professional advice and services for individuals, trusts, estates, corporations, partnerships, and other entities. These services include year end tax planning, retirement planning and goal setting, protection from penalty, discussions on ways to minimize income tax on inheritance, discussion of current tax laws, etc. Payroll Services - We offer full service quarterly as well as year end payroll tax preparation. We can produce all federal and state payroll tax returns. Accounting System Design - We can assist in the development and implementation of an accounting system design for small businesses, not for profit corporations, etc. We have an extensive library that includes articles and other materials that include trends and practices of many types of organizations. We can assist in writing accounting manuals, evaluate accounting software, evaluate current staffing and make recommendations. |
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