Ensuring Your Business’ Financial Success
Running a business is challenging but rewarding, and many factors go into determining the actual fiscal strength of an entity. Routine financial reporting is critical to understanding the underlying factors affecting revenue, cash flow and profit, as well as identifying potential threats to the business.
For most small businesses, our compilation services will be enough. We will develop a comprehensive set of financial statements based on information you provide, delivered monthly, quarterly or annually.
During a review, Stapp Financial can examine a business’ financial statements and issue a limited-assurance report that states whether those financials are solid or whether material changes need to be made. This can also be a useful tool when considering acquisition of an existing business, which has financial reports generated either in-house or by another accounting firm.
The most extensive financial examination a business entity can undergo is the audit, during which Stapp Financial will look at all aspects of a business’ financial reporting and issue a report that offers the highest level of assurance. The audit includes physical observation of inventories, confirmation of accounts at financial institutions, confirmation of accounts payable and accounts receivable, valuation and utilization of capital assets, and testing of transactions.
While small businesses are generally not required by state or federal regulations to undergo an audit, it can be required in some cases, and may be required by a business’ board of directors or by creditors.
Whatever your business needs, Stapp Financial can provide assurance services and financial reporting to help you better understand the financial health of your enterprise and ensure its compliance with audit or review requirements.