Financial reporting is done for the needs of institutions and the owner. It is complex, regulations are subject to constant change and, consequently, a substantial amount of investment is needed to prepare accurate and appropriate financial statements.
Financial statements and compiled financial statements
Financial statements and reports are compiled based on historical information that are based on accounting records. Many of the larger organizations, and often the smaller ones too, rely on their own accounting department or outside bookkeeping forgoing quality service or are forced to employ experts in that area which results in increased costs. In developed economies such organizations usually hire experts to create financial reports and statements economically with quality service. We are such experts.
Note: Pursuant to Audit Act, for clients that we have a contract with for obligatory legal audit, we cannot provide services that would put us in a conflict of interest, especially services of creating financial statements that are to be audited.
Refers to any reports created periodically pursuant to the clients' needs and based on historical information - financial and non-financial, such as inventory turnover report, uncollected receivables report, liquidity report and similar.
Compilation services refer to reporting historical information in different ways. They are useful for organizations that use several reporting systems (e.g. a company whose foreign owner has a need for consolidation and similar).
If you had problems with business records and do not know what to do when you have documentation missing or you were a victim of theft or embezzlement, you can come to us. We can help you.