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Accounting & Assurance Services
Ed Lloyd &
Associates, PLLC provides audit, accounting, and assurance services for
businesses and individuals. We help you understand your financial
information in order to manage your business better.
We offer a
variety of services to help you identify and address business challenges and
opportunities.
Assurance Services
- Financial
statements: audit, review, compilation, agreed upon procedures
- Forecasts
and projections: examination, compilation, assembly
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Attestation engagements: examination, review, agreed upon procedures
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Specifically designed assurance services
- Internal
Audits
Accounting Services
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Monthly/quarterly processing of financial information
- Payroll
preparation, tax reporting & record keeping
- Start-up
assistance & accounting systems development
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Bookkeeping assistance/training & overload services
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Pension/profit sharing/information returns
- Trust
accounting services
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QuickBooks services
- Personal
record keeping & budgeting
- Business
plan development
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Outsourced
accounting services
The requirements and objectives of the
different types of financial statements are detailed below.
- Audit Financial Statements - Audit financial statements are
the highest level of financial reporting available. This service is
provided by CPAs and is used when owners desire a higher level of
assurance in their financial statements. This includes testing
transactions, invoices, confirmations to third parties and other
procedures. This service is used for year end reporting, to comply
with loan covenants, bonding requirements, to obtain a contractor's
license and other reporting requirements. These financial statements
require full financial statement presentation and footnote disclosures.
- Review Financial Statements - Review financial statements
do not involve the testing like the audited financial statements.
The focus in a review is analytical procedures, trends and analysis and
other procedures. These financial statements require full financial
statement presentation and footnote disclosures.
- Compiled Financial Statements - Compiled financial statements
reflect the representations of management that are compiled into the
correct format for reporting purposes. These financial statements can
include full financial statement presentation with footnotes, or include
only the compilation report, balance sheet and income statement without
footnote disclosure.
- Management Reporting Financial Statements- Management reporting
financial statements are presented for management use only and are not for
disclosure to the public or third parties. The financial statement
presentation in these reports reflects the reporting requests of the
owners and managers of the company. These reports are often used for
interim financial reporting since they are typically used internally.
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