Financial Statement Preparation
Need clean, lender‑ready financials for a loan, potential sale, board reporting, or simply better visibility? We prepare accurate, timely statements and the supporting schedules you need—without the headaches.
Engagement levels we support:
- Management-use statements (monthly close and reporting)
- Preparation engagement (AR‑C 70, no assurance)
- Compilation (AR‑C 80, no assurance), when requested
- Audit/Review support: full PBC package and liaison with your independent auditor if an assurance engagement is required
What we prepare:
- Income Statement (P&L), Balance Sheet, and Cash Flow Statement
- AR/AP aging, trial balance, and variance schedules
- Department/class/location and budget vs. actual reports
- Year‑end package for tax filing and lenders (tie‑outs and support)
Reporting frameworks:
- GAAP, income‑tax basis, cash/modified cash, or other acceptable frameworks—selected to fit your purpose and lender requirements. We’ll explain pros/cons and recommend the best fit.
Process:
- Monthly close: reconciliations, adjustments, review
- Statements delivered on a set cadence (e.g., by the 10th business day)
- Review: brief call with variance highlights, ratios, and action items
- Year‑end: complete package for tax and any third‑party requests
Where this helps:
- Bank and SBA financing
- Due diligence for a sale or investor review
- Board and management reporting
- Government/agency information requests
Deliverables you can expect:
- Consistently formatted statements
- Supporting schedules and reconciliations
- Documentation of accounting policies and close checklist
- Secure portal for uploads, approvals, and archive
Want reliable financials stakeholders can trust? Contact us to get started or book a quick consult.
Why Choose Cloonan CPA?
- Personalized Attention for Every Client
You work directly with William Cloonan, CPA—no call centers, no junior staff. Every client gets tailored advice and responsive support. - Virtual CPA Services, Nationwide Reach
Efficient, secure, and convenient service for small businesses across the U.S.—no matter where you’re located. - Small Business Specialist
With 7+ years of experience serving entrepreneurs and small business owners, we understand your unique challenges and goals. - Trusted Experience
A proven track record of helping clients minimize taxes, stay compliant, and grow their businesses with confidence.
Ready to Get Started?
Schedule a free consult, reach out with questions, or access your secure client portal.
