Financial Statement Preparation
Successful businesses and organizations rely on the expertise of Barron & Company, LLP in providing attestation services. We offer a wide range of accounting services to individuals, businesses, and organizations. As your accountants we look beyond the numbers to identify factors that may affect the prosperity of your business. Barron & Company, LLP is committed to adding value to your organization. Services such as financial reporting give your business the stability you need to manage effectively and achieve your objectives.
We view our role in the financial reporting process as an opportunity to provide constructive solutions to maximize your company’s profitability and efficiency. As your industry evolves, you evolve, and we are here to facilitate your development and help you in recognizing alternatives and possibilities.
A Key Element of Our Attest Practice
A key element of our attest practice is providing review and compilation reports on financial statements for banking, regulatory requirements, bonding, or internal use. Lenders, investors and prospective acquirers often need assurance that the financial statements accurately represent the true financial position of a company. Financial statements reported on by respected accounting professionals provide users with the confidence they need to work with your organization. These statements are also used by management, providing critical data to manage such areas as cash flow, inventory turnover, gross profit margins, receivable collections and employee compensation. Users look to the financial statements as the fundamental source upon which decisions are based. We have the expertise and training to provide you with quality driven financial statements that are timely, informative and in keeping with current standards and regulations.
Two Levels of Financial Statement Services
We provide two levels of financial statement services, depending on your company’s needs:
- In a review engagement, we conduct analytical procedures and we make inquiries of your company’s management team. We use this knowledge to ascertain whether the information contained within the financial statements is correct and to identify any items requiring further analysis. The result is a limited level of assurance that there are no material modifications that should be made to the financial statements.
- A compilation requires us to present financial statements based on the representations made by management, with no assurance being provided by us as the accountant.
Financial Accounting Standards Board
The critical task of setting accounting standards in the world’s most dynamic economy is the responsibility of the Financial Accounting Standards Board (FASB).
Financial Statement Preparation for a Broad Spectrum of Industries and Sectors
Barron & Company, LLP works with many different types of organizations that range from closely held, middle-market businesses to national companies that cover a broad spectrum of industries and sectors. Some of these industries include truck dealerships, manufacturing, construction, franchising, real estate, foreign importing, membership clubs, tax exempt organizations, and professional services. These clients rely on us to provide them with reliable and accurate attest services.
Our firm is a long-standing member of several professional and trade organizations, including the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants.