Profit and Non-profit entities.The expression (generally)of an unqualified opinion on the financial statements taken as a whole. An audit involves performing procedures established by the accounting profession. Some of these involve the following:
- Oral evidence
- Visual evidence
- Copies of certain documents
- Outside confirmations
Looking at the books and records of the entity involved and the internal controls established by the entity. An audit is planned, the risk of material misstatement is evaluated and an opinion is formed, based on the evidence collected. A financial statement is produced, which includes the Balance Sheet (assets, liabilities and owner’s equity) the Income Statement (revenue and expenses) Retained Earnings Statement, Cash Flow Statement and Notes. The notes consist of some which are required and some that the entity wishes the reader to be aware of.
Less than an audit (outside confirmation is not required) all of the other requirements are performed. Generally the user of the financial statements determines
the level, audit or review, of assurance needed.
General bookkeeping, bank reconciliations, revenue and expense detail and the preparation of timely financial statements
Management Advisory Services
Discussions with management as to what is being done and what is not being done. How to improve business procedures and practices.
Taxes: preparation and planning. Corporate (C and S corps) Partnerships, Individual, Fiduciary, Estate and Homeowner Associations. All tax returns are prepared and checked, Steve either prepares or checks, Mary then prepares the copies for each client and electronically files them.