Accountant Rancho Cucamonga

What type of accounting services do you offer?

RANCHO CUCAMONGA, CA – My first answer is we do the type of accounting you need, customized to fit your business.  Tax services seem to dominate the minds of many business owners since it happens every year.  Every business requires an annual tax return or the income can be included in your individual return annually.  Tax planning can be a year round activity to regulate and bring the unexpected into focus.  Consulting with business owners on their accounting is also an ongoing event – once the account is reconciled, the interpretation begins.  Making sure the ownership understands the result and how it occurred is important.

There are several levels of financial reporting a CPA can perform. The first and most prevalent is the compilation.  The next level is review and the highest level of reporting is the audit.  Banks and third party users are namely the reason companies are required to issue financial statements for other than their own use. Sometimes disclosures are required on all three levels of reports to highlight and better explain significant parts of the financials.  A public company notes can go on for fifty to one hundred pages in some cases, likely three to six for most small companies.  The basic cost for financial statements are – a review costs twice the price of a compilation and an audit normally twice the price of a review.  Make sure your accountant is qualified to issue an opinion if needed.  I recall a recent experience in which a banker shared with me that the bank received an opinion from a bookkeeper.  Only CPAs are able to issue opinions on financials.  The bank was misled which could have caused issues for both the company and the bank.

By:  Stephen C. Williams, CPA – Partner