Experienced CPAs Provide Reliable Financial Statement Services
Essential documents prepared with meticulous care
If your business has met with success, you have many options available to you for financing and growth. You could apply for a loan to fuel expansion, you could look for a buyer for your company, or you merge with another established company. But, in each case, the other party to the transaction is going to ask to “look under the hood” to see just what’s going on within your company. In other words, they’re going to ask for financial statements that contain the facts they need to make their decision. Fortunately, Breon & Associates is prepared to help. Our distinguished accounting team has vast experience providing compilations, reviews, and audits. We are eminently well qualified to undertake this task for your organization.
Skillful preparation of company financial statements
No one likes to operate in the dark, and no matter how good your business instincts are, you need reliable data to make responsible decisions. The same is true for your stockholders, creditors, and private investors, who want some assurance that your financial statements accurately represent your company’s true position. Different stakeholders have different levels of risk tolerance, so we let you select the type of report appropriate to your specific circumstances.
Providing the levels of assurance you need for your business transactions
At Breon & Associates, organizations often call upon us to prepare financial statements for in-house use or to present to a third party. A set of basic financial statements with no assurance, or limited assurance may fulfill your internal needs and perhaps some lenders’ requirements for documentation on small loans. Compilations and reviews are less costly than audits. For other purposes, when a greater level of assurance from us may be necessary, you will be looking for an audit. The differences between these financial statement services are listed below.
- Compilation — A compilation is what the name suggests: a report based on financial information a company has provided. In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
- Review — In performing a review, we apply analytical procedures to the financial statements and make inquiries of your management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. A review doesn’t require us to study and evaluate your company’s internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: “we are not aware of any material modifications” for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.
- Audit — An audit provides third parties with the greatest level of assurance as to the accuracy of the financial data. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. This work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we report whether the financial statements are fairly stated and free of material misstatements.
This work requires familiarity with the accounting methods of the company’s particular industry, so it’s important to choose a firm with adequate knowledge and experience. When you retain Breon & Associates, you get personalized service from eminently well-qualified CPAs. We communicate candidly and clearly, so you understand the process and the final product.
Contact Breon & Associates in Harrisburg for trustworthy business accounting services
Breon & Associates can prepare, compile, review, and audit financial statements for a wide range of organizations throughout Pennsylvania. When you need financial statements for internal purposes or to obtain credit, you can count on our experience, professionalism and timeliness. With offices in Harrisburg and North Central PA, Breon & Associates provides business, accounting and tax services throughout Pennsylvania. Call us at 1-888-516-8476 or 717-273-8626, or contact one of our offices online to schedule an appointment.
415 Market Street, Suite #205
Harrisburg, PA 17101
Camp Hill Office:
3461 Market Street, Ste 101
Camp Hill, PA 17011
901 Dawn Avenue, Suite A
Ephrata, PA 17522
4 Park Plaza, Lower Level