Youmans & Gardner, CPAs can provide many different levels of professional service to provide our clients with financial information. Whether a client uses our accounting & bookkeeping services, our controller & internal accounting services, or prepares their own financial records, we can help prepare their financial statements.
Compiled Financial Statements
Our core services include compiled financial statements. The objective of a compilation is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements. These statements usually contain a Statement of Assets Liabilities & Equity and a Statement of Revenues & Expenses and are prepared on the income tax basis of accounting; although other basis of accounting are available.
Reviewed Financial Statements
For financing, regulatory, bonding, or other requirements we can provide reviewed financial statements. A review is conducted in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. Those standards require us to perform procedures to obtain limited assurance that there are no material modifications that should be made to the financial statements. Reviewed financial statements are usually prepared in accordance with generally accepted accounting principles and generally contain a:
Agreed-Upon Procedures services involve our accountants conducting tests of pre-defined criteria to determine if policies and procedures are being followed by a client's employees. This service gives clients the flexibility to specify which areas of their accounting system should be tested without incurring the cost of an audit of their financial statements; resulting in substantial cost savings.
Our average client is concerned about whether cash management policies are being followed by employees. We can conduct tests based upon your policies and provide you with a report detailing our tests and the results thereof. While cash management is the most common testing area, we can design procedures for any area of your accounting system.
Agreed-Upon Procedures provide confidence in a client's accounting system and ultimately in their financial statements. Contact us for more information on how this service can benefit your business.
We would like the opportunity to discuss how our services can help meet your needs during a FREE initial consultation. Contact us at (229) 246-1511 or by clicking here to schedule a meeting.
Notice 1036 has been released by the IRS which provides new federal withholding rates based on The Tax Cuts and Jobs Act passed in December. Employers should begin to use the new rates as early as possible, but no later than February 15, 2018. We provide a link to the notice and other payroll forms under our Resources page. Click here.