Whether you need financial statements for external parties or simply for internal use with management, LG&H can provide a range of financial reporting to fit both your pocket book and the requirements of lenders, bonding companies, boards of directors, or governmental agencies. We are able to provide your entity with an independent and objective view of your financial condition and results of operations.
Types of Financial Statements
There are four levels of financial statements: prepared, compiled, reviewed, and audited. LG&H can help on all levels.
- Prepared Financial Statements
When all is needed are financial statements without the requirements for an audit, review, or compilation, prepared financial statements may do the trick. For prepared financial statements there is no report and no assurance and they can be done without note disclosures.
- Compiled Financial Statements
The lowest level of assurance is the compilation. For most businesses this level is perfectly acceptable to lenders and other third parties. Compilations can be prepared in a basis of accounting to meet your needs.
- Reviewed Financial Statements
At an intermediate level of assurance are reviewed financial statements. Here much of what we do to assure ourselves of the accuracy of the financial statements consists of inquiries of management and analytical review procedures.
- Audited Financial Statements
The highest level of assurance are audited financial statements. For more information on audited financial statements click here.