Raggi Lisowski Accounting & Reporting Services

At Raggi Lisowski, we provide a variety of accounting services to our clients. Our Certified Public Accountants (CPAs) have extensive experience in both public and private accounting. This enables us to provide valuable accounting services to businesses of various sizes and industries. By handling your accounting needs, we allow you to focus on what matters; effectively operating and growing your business.

Preparation of Financial Statements

This is the most basic level of financial statement service we provide.  There is no assurance given on the financial statements and their sole purpose is to help management place information into financial statement format.

Compilations

A compilation is the second level of accounting service that we offer. The objective of the accountant in the compilation engagement is to apply accounting and financial expertise to assist management in the presentation of financial statements and reports in accordance with applicable standards without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements for them to be in accordance with the applicable financial reporting framework.

Reviews

In addition to compilations, we provide financial statement reviews which include the same series of steps involved in a compilation, along with additional analytical procedures and inquiries. The extra procedures and inquiries are performed to provide a limited level of assurance that your financial statements conform to the applicable financial reporting framework for your specific business and industry.

The main objective of a review is to provide limited assurance that, according to the accountants’ knowledge, your financial statements are not misstated and that there are no material modifications that need to be made to your financial statements in order for those statements to conform to the appropriate financial reporting requirements.

Reviews are often required by outside third parties such as banks and creditors, to establish a baseline level of assurance regarding the accurate representation of a business’ financial statements.

Audits

An audit is the most comprehensive service that we provide with regard to accounting and financial statement examinations. An audit is a systematic review and investigation of a businesses policies, procedures and systems used to record and present financial data. Under Generally Accepted Auditing Standards (GAAS), our auditors will obtain a sufficient understanding of your business’ internal control and financial transactions through examination, inquiry and other analytical procedures to allow us to express an opinion on the financial statements as a whole as to their fairness in conformity with Generally Accepted Accounting Principles in The United States or another form of accounting basis consistently applied.

Outside third parties such as banks, creditors and investors often require audited financial statements to obtain a higher level of assurance about the accuracy of a business’ reported financial standing.