Accurate financial information is crucial when it comes to maximizing the performance of your business and making important operational and strategic decisions. To support your business goals, we offer sound, accurate reporting with critical analysis so you always know where you stand financially. And we’re there for you throughout the year to offer insightful counsel and review services, when needed.
Via our financial statement review and compilation services, we provide you with comprehensive and detailed financial statements on a monthly, quarterly, or annual basis. However, we don’t just deliver the documents, we work in partnership with you to make sure you understand your data so that you can continue to make smart business decisions and stay on a healthy financial course.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. Reviews are done to ensure the integrity of your data.
Compilations are usually requested for internal purposes and are based on information provided by a company's management. Compilations do not offer assurance, but they may involve some adjustment to accounting records.
This probably sounds like a boring subject that only we bean counters would care about, but don’t ignore this important topic. If your partnership experiences an ownership change, it might apply to you.
A technical termination occurs when 50% or more of the total ownership interest in a partnership’s capital and profits changes during a 12-month period. This could be an...
With a definitive uptick in hacking and ransomware, there has been a corresponding emphasis on cybersecurity. It is no longer simply a matter of arguing over erroneous credit card charges – personal data is being used to file fraudulent tax returns, claim social security benefits, and the like. Here at LBF, we want to make sure you are doing everything you can to protect your personal...
When you form an LLC, you need to draft articles of organization that comply with the state’s LLC act and then file the articles with the appropriate state office. Typically, the required articles are broadly worded and likely don’t address members’ rights and responsibilities as you would like them addressed.
You should consider taking the extra step of having your...