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Compilations

Providing no level of assurance

Compilations are popular attest engagements when an organization does not require to be audited but needs to provide more formalized financial reporting to stakeholders beyond self-prepared financial reports.

We understand that small businesses may not have the internal resources to complete a full set of financial statements as required by lenders or other external parties. We can help. Our professionals will take your financial records and prepare financial statements based on that information. We are accustomed to working with numerous accounting software packages and will share our insights and suggestions throughout the engagement.

Trout CPA performs hundreds of such engagements each year and will consult with you about the best level of attest service to meet the needs of financial statement users. 

We believe that it is often a worthwhile conversation to discuss the optimal financial reporting framework and help weigh the pros and cons of different bases of accounting, such as:

  • Accounting principles generally accepted in the United States of America (U.S. GAAP)

  • Income tax basis of accounting

  • Modified cash basis of accounting or pure cash basis of accounting

  • Financial Reporting Framework for Small- and Medium-Sized Entities (AICPA FRF for SMEs)

Want to learn more about our Compilation services?

We would be happy to discuss how Trout CPA can help with your specific needs.

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