Our C.P.A.’s and professional staff can help you with every aspect of your accounting needs from write-up to audit and assurance services. We also offer a full range of tax preparation services for businesses (including corporations, S-corporations, & partnerships), individuals, gifts, estates, trusts and multi-state tax returns.
Please browse our following services:
We provide almost all available tax services pertaining to the service areas of our firm. We subscribe to a multitude of online and paper reference materials and have utilized the highest rated tax preparation software available since our inception. Our combination of training, experience, reference tools, and tax software provide our clients with the best available service in areas including:
- Tax preparation of all federal, state and local tax returns
- Estate, gift and trust planning
- Assistance with business transactions of sale, acquisition, mergers, reorganizations and liquidations of our clients
Write-up services provide basic accounting information necessary to prepare income and payroll tax returns, manage operations and maintain credit. These services contribute significantly to business management when received in a timely manner. Write-up services include:
- Recording cash receipts and disbursements, accruals, and adjustments to produce a general ledger or trial balance
- Preparing financial statements from general ledger or trial balance information
- Calculating depreciation and maintaining fixed asset registers
- Calculating payroll tax deposits
- Preparing payroll tax returns
- Summarizing data required for tax returns
A compilation of financial statements is defined in SSARS No. 1, AR 100.04, as follows:
Compilation of Financial Statements: Presenting in the form of financial statements information that is the representation of management (owners) without undertaking to express any assurance on the statements.
When Carroll & Cook compiles financial statements, we will gain a general understanding of the nature of the entity’s business transactions, the form of its accounting records, the stated qualifications of its accounting personnel, the accounting basis on which the financial statements are to be presented, and the form and content of the financial statements. On the basis of that understanding, we will then consider whether it will be necessary to perform other accounting services, such as assistance in adjusting the books or consultation on accounting matters.
A review consists of applying analytical procedures and making inquiries of persons responsible for financial, accounting, and operational matters. A review does not typically include tests of the underlying accounting records and it is significantly less complex than an audit engagement. The objective of a review is to provide assurance that we were not presented with information that would cause us to believe that the financial statements presented were not in accordance with generally accepted accounting principles.
An audit is the highest level of assurance that we can provide with regard to an organization's financial statements and disclosures. The objective of an audit is to express an opinion on the fairness with which the financial statements present (in all material respects) financial position, results of operations, and cash flows of an organization in conformity with generally accepted accounting principles. This also involves a clear understanding of an organization's internal control environment, management philosophy, organizational structure, ethical values and integrity.
Typical audit procedures might include: confirmations with third parties, tests of transactions, analytical review procedures and discussions with management. Generally, audits are performed because they are required by a lender, regulatory agency (such as the state or federal government), or by stockholders/members of the company or organization.
Employee Benefit Plan Audits
We understand the complexity of performing employee benefit plan audits in a strict regulatory environment. Our dedicated team of professionals possesses the specialized knowledge and experience needed to help ensure compliance with the appropriate standards and changes in regulations that may impact your company’s employee benefit plan and its respective audit.
At Carroll & Cook C.P.A.’s, we will maximize efficiency and quality while offering your plan administrator and human resources personnel confidence in us as a professional resource.
In order to better suit your needs, our team of professionals specializes in a variety of industries including:
- Architectural and Engineering
- Employee Benefit Plans
- Law Firms
- Real Estate