Woodland Hills · Los Angeles
Financial Statement Preparation
Organized financial statements that help you understand performance and prepare for the conversations ahead.
Financial Statement Preparation
Bring the pieces of your financial picture together.
Your financial statements should give you a clear starting point for understanding your business. MyCPA, LLP brings accounting records together into an organized presentation of financial position and results, tailored to the purpose of the reporting.
Whether you need monthly information for management, quarterly reporting for owners, or annual statements for a specific request, we begin with how the statements will be used. We agree on the reporting basis, periods, and deliverables, then work with the information you provide to prepare statements you can discuss and use.
How we can help
- Balance sheets and income statements
- Cash flow and equity statements, where included in the agreed reporting package
- Monthly, quarterly, or annual financial statement preparation
- Comparative reporting and supporting schedules tailored to your needs
- Coordination of bookkeeping cleanup and account reconciliation support
- Discussion of reporting requirements for owners, management, and outside recipients
Understand your statements
Different views.
One financial picture.
The statements included depend on the reporting framework and your engagement. Together, they help explain more than a bank balance alone.
Balance sheet
A snapshot of assets, liabilities, and equity at a particular date. It helps you understand what the business owns, what it owes, and the resources available to support operations.
Income statement
A view of revenue, expenses, and profit or loss over a period. Consistent presentation makes it easier to follow performance and identify areas that deserve a closer look.
Statement of cash flows
An explanation of changes in cash from operating, investing, and financing activities. Where included, it helps connect reported results with cash movement and explain why profit and available cash may differ.
Equity and supporting information
Equity statements show changes in ownership balances, including contributions, distributions, and earnings. Notes and supporting schedules may provide additional context, depending on the agreed reporting framework and scope.
Reporting with a purpose
Start with the decisions.
Build the reporting around them.
Owners may want to follow profitability, understand working capital, or prepare for a discussion about growth. Management teams may need a consistent monthly package. An outside recipient may have specific requirements for the reporting period, accounting basis, and level of service.
We help clarify those needs before the work begins. If statements are intended for a lender, investor, or another third party, obtain that recipient’s requirements first. Prepared statements are suitable only when the recipient accepts this level of service.
A reporting basis that makes sense
We discuss the appropriate framework, which may be U.S. generally accepted accounting principles or another suitable basis, such as income tax or cash basis. The choice affects how transactions are presented and how readers interpret the statements.
Continuity from period to period
A consistent schedule and presentation help make changes easier to follow. We coordinate information requests and outstanding questions with your team, so each reporting cycle has clear responsibilities and a practical timetable.
Our preparation process
From your records to an organized presentation.
01
Define the need
Confirm the intended users, reporting periods, accounting framework, statements, and delivery schedule. Identify any third-party requirements before selecting the engagement.
02
Gather and prepare
Collect the trial balance, ledger, and supporting schedules. Discuss missing information or apparent inconsistencies with management and prepare the agreed statements from the supplied records.
03
Explain and coordinate
Walk through the presentation and answer questions about the statements. Where additional bookkeeping, planning, or controller support would help, agree on that work separately.
Choose the right level of service
What preparation provides.
A financial statement preparation engagement uses information supplied by management to prepare financial statements. It does not provide assurance, verify the accuracy or completeness of the underlying information, or include an audit opinion or review conclusion. Management remains responsible for the records and financial statements.
A preparation engagement ordinarily does not include an accountant’s report; the statements indicate that no assurance is provided. If a recipient requires a compilation report, review, or audit, we can discuss that separate service.
Compare audit, review, compilation & preparation →What to have ready
- Your trial balance or general ledger and recent financial reports
- Bank and credit card reconciliations and relevant account statements
- Receivable, payable, debt, fixed asset, and other supporting schedules as applicable
- Prior-period statements and details of significant changes
- Written reporting requirements from any intended outside recipient
If your books need attention first, our Accounting & Bookkeeping team can discuss cleanup and reconciliation support.
Connected support
Part of your bigger picture.
Let us talk about what is next
A good conversation.
A clearer way forward.
Tell us what is on your mind. We will help you find the right next step.