Alan L. Gordon, CPA, P.A.
51 Monroe Street
Suite 401
Rockville, Maryland 20850

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Financial Statement Preparation

The accounting firm of Alan L. Gordon, CPA, P.A. provides a number of financial statement preparation services that are based on the needs of our clients. Depending upon the individual requirements of a business, the firm will recommend the appropriate level of assurance for the needs of the client and/or the institutions requesting the service. Our services can be broken down into three general areas.

Compilation – The least expensive and also the minimal financial statement preparation service that the firm provides. This is a representation of the management of the client company and typically includes a balance sheet and income statement. In a compilation we will review information provided by the client company, make corrections to obvious errors, and present the numbers in a standardized format. A key note - With a compilation we do not verify the accuracy of client numbers and cannot be responsible for the numbers.

Review – The next level of service includes all of the compilation services, but also includes additional inquiries of client personnel and typically includes ration analysis of the financial information. A review will provide a profit and loss statement, statement of cash flow, and notes and disclosures. As with a compilation, the firm will not provide assurance of the accuracy of the client’s books until we reach the next level of service.

Audit – An audit provides a verification of the client’s internal system controls and a thorough testing and examination of material accounts and accounting procedures. Very often, lending institutions will require an independent audit to validate a company’s accounting processes prior to offering loans to the company. With an audit, we take on a certain amount of responsibility for the accuracy of the company’s financial statements and verify that the statements are free of material misstatements.

An important note regarding the quality of our financial statement preparation services: Every three years we submit our firm to a peer review by the American Institute of Certified Public Accountants (AICPA) to ensure that we comply with all accounting standards and practices.