Accounting and Assurance
At KBFP in Woodbridge we can provide the level of service the client requires in order for a business to meet creditor, regulatory, investor, or other requirements. With the high standards KBFP employs in all our work, clients can be assured that work will be completed in a cost effective, timely manner that produces quality work. KBFP provides services to Woodbridge and the surrounding areas for privately held companies and Not for Profit organizations in preparing, reviewing or auditing financial statements, preparing special reports, CFO or controllership services, and bookkeeping and payroll functions. When engaging the services of an accounting firm a business should ensure that the firm is a Licensed Public Accounting and not an unlicensed firm.
Compilation Financial Statements
If an audit or review of the financial statements is not required, the complication of financial statements for tax reporting, performance assessment and to make future business decisions can be offered to clients. KBFP can put it all together for you business in a timely and cost effective manner that provides quality work to the client.
Review of Financial Statements
Perhaps there is a request from outside parties to have the financial statements reviewed by Licensed Public Accountants. Perhaps you would like a review conducted to subject your financial and accounting reporting to a higher standard for internal purposes. KBFP can review the financial statements provided by the client and issue an opinion of the plausibility of your financial position in accordance with Generally Accepted Accounting Principles (GAAP). A review is less work than an audit as the assurance provided is less and consists primarily of enquiry and analytical procedures.
Audit of Financial Statements
KBFP employs a risk based audit approach. The approach focuses on those areas that contain the highest level of risk of material misstatement. The approach allows for the audit to be cost effective and efficient. We take the time to really get to know the business from an internal and external point of view. Our audit process maintains integrity, objectivity, independence and forms an opinion on the weather the financial statements are free from material misstatements.
If you require a special report at the request of lenders, investors, business partners or other parties, KBFP can help. The special report may be for regulatory purposes or to confirm certain components of financial statements or performance measures.
CFO and Controllership Services
If you need a part time CFO or Controller to fill a void in the skill set of your business, KBFP can help. We can assist in business start-up, tax planning, strategic planning, asset management and overall financial controls and direction.
Bookkeeping and Payroll
Often many small businesses neglect the important day to day record keeping as they focus on other aspects of the daily operations of the business. They may not feel comfortable or have the knowledge or the time to properly maintain the bookkeeping for the business. Keeping the daily record keeping of a business is critical in getting government remittances correct, assessing accounts receivable and account payable, cash positions as well as overall business performance. A good solid recording of the daily activities of the business is the foundation on which other analysis can be done. This can improve business decisions and reduce the stress of having to “clean up” records later on or errors in government remittances.
If you do not have the budget for a full time bookkeeper and need more time to focus on core competencies, let us customize a solution that provides for the burden of day-to-day financial accounting. Arrangements can be made to have the work done remotely or on premises.