Financial Reporting Services
Understand Your Numbers. Make Better Decisions.
Financial reports should do more than summarize what happened last month or last year. They should help you see where your business stands, understand changes in performance, and decide what needs attention next.
HCCPA prepares financial statements and management reports tailored to your business and the people who use them. Whether you need regular information for your own decisions or statements for a lender or other external party, we help present your financial results clearly.
Financial Statements
Financial statements bring together the key information about your business: what it earns and spends, what it owns and owes, and how cash moves through the company.
We help prepare statements using your accounting records and discuss significant balances or changes with you. This may include reviewing revenue and expenses, accounts receivable and payable, loans, and other items that affect the financial picture. If the records need further work before meaningful statements can be prepared, we can help identify the gaps.
The result is an organized view of your financial position and performance that you can use for planning, tax preparation, or discussions with other parties.
Types of Financial Reports
Compilation Engagements
Some businesses need financial statements prepared by a CPA for shareholders, lenders, or other users, but do not require an audit or review engagement.
In a compilation engagement, we compile financial information provided by management into financial statements and issue a compilation engagement report. We first discuss who will use the statements and what they need, so you can determine whether this type of engagement is appropriate.
A compilation engagement does not provide assurance on the financial statements. If a lender or another party requires an audit or review, we can help you clarify that requirement before work begins.
Management Reporting
Annual statements are useful, but many decisions need more current information. Regular management reports can help you monitor results during the year and respond to changes sooner.
We can prepare monthly or quarterly reports suited to your business. Depending on your priorities, these may show revenue, gross margin, operating expenses, profitability, cash flow, receivables, and other measures that matter to you. We can also compare results with prior periods or your budget to make trends easier to see.
We take time to explain what the reports show, including unusual changes and questions that may need further investigation.
Reports Built Around Your Business
A useful report focuses on the decisions you need to make. A growing business may want to monitor margins and cash requirements. Another may need clearer information by location, service line, or project. A business preparing for financing may need consistent historical results and supporting schedules.
We work with you to identify the information that matters most, then develop a reporting format and schedule that your team can maintain. As your business changes, the reports can change with it.
From Records to Useful Insight
Good reporting depends on reliable accounting records. HCCPA can work with your existing bookkeeper or internal team to prepare reports from the information available. If you need more support, our bookkeeping and controllership services can help strengthen the underlying records and reporting process.
Contact HCCPA to discuss the financial reports your business needs and how you plan to use them.