ACCRUAL
ACCOUNTING

FINANCIAL

STATEMENTS

FINANCIAL

ANALYSIS

Accrual Accounting

We offer full service accrual accounting prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP).  These services include the preparation and maintenance of the following:

  • Accounting Journal - Chronological list of accounting entries noting source documents.

  • General Ledger - Accounting entries separated into corresponding categories with updated balances.

  • Bank Reconciliation - Adjusts books for any additional bank activity and helps deter employee fraud.

  • Accounts Receivable Aging Report - Tracking of outstanding invoices by age (0-30 days old, 31-60 days old, 61-90 days old, and 90+ days old).

  • Combined balances for total assets, liabilities, equity, revenue, expenses, and income.

  • Trial Balance - Uses all accounting entries and the accrual accounting equation to double check that everything was correctly accounted for.

Financial Statement Preparation

For our accrual accounting clients, we offer financial statement preparation as an additional a la carte service.  Clients can choose either a monthly or quarterly option.

  • Income Statement - Summarizes the revenue and expense creating activities of the company for a period of time (month, quarter, or year).

  • Statement of Cash Flows - Isolates the changes in cash from the total revenue and expense creating activities.

  • Statement of Owner's Equity/Statement of Retained Earnings - Tracks the amount of investment and income that remain held in the company less any owner's withdraws or dividends paid.

  • Balance Sheet - Summarizes the companies total assets, liabilities, and equity as of a particular date.

Financial Analysis, Consulting, and Economic Research Reports

We offer a range of financial analysis reports to choose from in order to help clients better understand the financial performance of their company and aid in decision making.

Variance Analysis Reports - The variance analysis reports that we recommend for most businesses are the Purchase Price Variance and the Sales Volume Variance.  These reports can help a company with budgeting, managing expectations, and tracking seasonal trends and general market trends.

Ratio Analysis Reports - There are a multitude of ratios that can help a company understand its efficiency compared to its own past performance as well as to industry averages.  Examples of widely relevant ratios and the insights they provide include:

  • Inventory Turnover (warehousing cost and inventory relevance/demand)

  • Days Sales Outstanding (average time to get paid)

  • Return on Equity (how well the owner's investment is generating income)

  • Interest Coverage (ability of a company to pay interest on its outstanding debt)

  • Margin of Safety (the reduction of sales that can occur before reaching the break even point)

Consulting Reports - Worried about falling into the perils of group think?  Consider employing our consulting services to provide an independent perspective.

Economic Research Reports - Need an answer to a question that requires extensive economic research?  We're here to help.  We are capable of reporting in any format for any intended audience.  Recent public economic research reports:

Inside Donald Trump's Unemployment Rate

The definitive study into what the Headline Unemployment Rate is and isn't. The format of this study provides an example of reporting in a format that targets a more mass audience and seeks to keep readers engaged while enduring through complex or dry subject matter.

 

When reading "Inside Donald Trump's Unemployment Rate," it is important to note that the JOLTS open jobs number later revealed itself as not a legitimate representation of serious job openings.  This is documented in the paper "RIP JOLTS."

Calculating SAT Test Prep Course Return on Investment: A Reanalysis of the Systematic Scientific Literature Review

 

The study that severely and definitively debunked the SAT uncoachability myth.  The format of this study provides an example of reporting in a format that targets a more academic audience.