Financial Statement Services

Financial statements are a vital measure of performance that nearly every business must prepare. Since accounting needs vary from business to business, Joseph Banker, CPA offers different levels of financial statement services, each with its own degree of assurance for Memphis, Germantown, Colierville and surrounding based businesses.

Financial statements are more than a sum of their parts, and our financial statement services go beyond checking your math. As your advisers, we become familiar with your business so that we can provide you with valuable information you can use in your daily management decisions that will improve your profitability and ensure that you receive value beyond traditional reports and financial statements.

What type of financial statement is best for your business?

Audited Financial Statements
An audit is the process of gathering and evaluating evidence as it relates to financial information. Gathering and evaluating evidence obtains the highest level of assurance by the accountant on the financial information. An opinion on the financial statements is actually issued by the accountant.

Reviewed Financial Statements
A review consists primarily of inquiry and analytical procedures. The accountant performs some procedures to achieve a level of assurance; however, the level of assurance by the accountant is not the same that could be obtained by performing an audit.

Compiled Financial Statements
A compilation is accounting work in which an accountant performs few, if any, procedures, and it is substantially less than a review service. No level of assurance by the accountant is placed on the compiled financial statements.