What is your business' bottom line? Do you know how healthy your business is?
If you are in need of a loan, or looking for investors for additional capital to help grow your business, the difference between getting approved or denied the financing you need can be as simple as having the appropriate financial statements in order.
All clients of B.O.L. Global are provided Profit & Loss statements, Balance Sheets, and Bank Reconcilations as part of our monthly or quarterly service.
Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.
A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.
Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA's technical expertise without the work and expense of an audit.
In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.
Which Report Should You Use?
Each type of financial statement report may suit specific circumstances, depending on requirements from your client's bank or other parties, as well as meet budgetary needs.
Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one. Please call if you have questions about which type of report is right for you.
We are honored to receive an award as the Best Accounting firm, in SMB market, for 2018 in San Francisco by the San Francisco Award Program. It is an annual awards program honoring the achievements and accomplishments of local businesses throughout the San Francisco area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value. We also help individuals with their tax problems and tax returns
Hello Victor, You were the one that made me sign up with your firm, and the kindness and availability of your team made me
stay. Thank you very much for being a part of our success.
Bouche French Restaurant
Our top reasons for working with BOL have been around BOL's ability to be consistently pragmatic and flexibly adapting to
our changing and evolving business needs while being able to do this in a a reasonably affordable
Xscend Detailing, Campbell, CA.
Service is great, fees are reasonable.
Open Resty Inc, a software company
Simon and Victor, The meeting today about tax advisory was super informative. We are so glad we found you! Thank you for
taking us as clients and we look forward to keep working with you. Happy new year!
Jason & Fan Cox
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An income tax form is like a laundry list - either way you lose your shirt.
The hardest thing in the world to understand is the income tax.
The difference between death and taxes is death doesn't get worse every time Congress meets.