CPA-prepared balance sheets and income statements — proper form, reconciled books, ready for your lender — monthly, quarterly, or annually, with cleanup included when the ledger needs it.
Loan applications, lines of credit, commercial leases, bonding, buy-sell conversations — sooner or later a third party wants financial statements, and a QuickBooks print-out doesn't inspire confidence. What they're really asking for is statements prepared by a CPA: a balance sheet and income statement built on reconciled books, in proper form, from someone whose license stands behind the work quality.
We prepare financial statements — monthly, quarterly, or annual — under the professional standards for preparation engagements (AR-C 70), suitable for management use and for sharing with lenders and other third parties, with the required disclosures handled properly. Where a lender specifically requires a compiled or reviewed statement with a formal accountant's report, we'll tell you plainly what that involves and help you scope it — the right level of service depends on what your lender actually requires, and asking them one precise question often saves thousands.
Financial statements are only as good as the ledger underneath. Preparation engagements pair naturally with our bookkeeping and cleanup work — for many clients the engagement is really “get the books right, then keep statements coming quarterly.” If your books are behind, we fix that first; statements assembled on top of an unreconciled ledger help no one, least of all you.
For businesses working with our fractional CFO service, prepared statements are part of the monthly package — the same numbers your lender sees are the ones you manage by, which is how it should be.
One conversation about who needs the statements and why; a look at the books; a flat fee in writing. First-time engagements typically include a cleanup pass, then standing engagements deliver statements on your reporting calendar — before the bank asks, not after.
What's the difference between prepared, compiled, and audited financial statements?
They're increasing levels of CPA involvement and cost. Prepared statements (AR-C 70) present your numbers in proper form with no assurance report. A compilation adds a formal accountant's report; reviews and audits add increasing levels of assurance — and cost. Most small-business lenders accept prepared or compiled statements. Ask your lender which they actually require before paying for more.
Can prepared statements go to my bank?
Yes — preparation-engagement statements can be provided to lenders and other third parties; each page carries a legend noting no assurance is provided. Many lenders accept them, particularly alongside tax returns. If yours requires a compilation or review, we'll help you scope it.
My books are a mess. Can you still prepare statements?
After a cleanup, yes — and the cleanup is usually the more valuable half of the engagement. We quote both pieces together as a flat fee.
How often should statements be prepared?
Match your obligations: annually for a simple loan covenant, quarterly for most active credit lines, monthly for businesses using the numbers to manage. Standing engagements cost less per statement than one-off scrambles.
Tell us who's asking and what shape the books are in — we'll quote the whole path from ledger to lender-ready.