Financial Statements

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:

  • Balance Sheet,
  • Income Statement,
  • Statement of Equity,
  • Statement of Cash Flows,
  • Notes, and
  • Supplemental Information.

 

Agreed-Upon Procedures

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.

 

Contact Us

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.

Contact Us
Youmans & Gardner, CPAs
Southwest Georgia

108 East Broughton Street
Bainbridge, Georgia 39817
Click For Map
229.246.1511
Fax 229.246.1488

North Florida

113 North Madison Street
Quincy, Florida 32351
Click For Map
850.627.7109
Fax 850.627.7384

Firm News
NetClient CS Apps

Our NetClient portals are mobile!

Holiday Office Hours

Our offices will be closed from Monday, December 25, 2017, through Monday, Janaury 1, 2018, in observance of Christmas and New Year's Day.

We will continue to prepare client payrolls as scheduled.

Is it really the IRS calling?

Many taxpayers have encountered individuals impersonating IRS officials – in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee.

The IRS initiates most contacts through regular mail delivered by the United States Postal Service.

However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations.

To understand how and when the IRS contacts taxpayers and determine if it’s truly the IRS see: How to know it’s really the IRS calling or knocking on your door.