If your bank or stakeholders require monthly, quarterly, or annual financial statements, we can provide a cost-effective solution in preparing a compilation report. Our compilation reports are based on the accounting method that you use for tax purposes, and omit substantially all footnote disclosures. A basic compilation report of this nature will often satisfy the requirements of bankers and other stakeholders. We rely on our understanding of accounting principles and your business to prepare a compilation without performing an audit or other analytical procedures. Our firm is licensed to provide such services and we are subject to peer review by the Texas Society of Certified Public Accountants.
Larger private companies may require financial statements that have been reviewed or audited by a certified public accountant. Although our firm does not perform reviews or financial statement audits, we work closely with larger firms that provide these services. Since auditing firms are unable to "audit their own work" we can save you the cost of hiring an in-house tax department by preparing the income tax disclosures under FAS 109 and FIN 48 that must be included in your reviewed or audited financial statements under generally accepted accounting principles.
In addition, we can prepare your company's tax returns, whether you are organized as a consolidated group of corporations, a single corporate entity, an S corporation, partnership, or limited liability company. We handle all federal and state income tax filings for our clients who do business in multiple states. Plus, we will reconcile your tax returns to the income taxes you report on your financial statements.
Outsourcing your tax function to us provides you with the quality tax help you need at a fraction of the cost of maintaining an in-house tax department.
