Financial Statement Preparation

If you own a business, you may be required to provide financial statements to banks, lenders, investors, or other third parties with which you are transacting business. Whether you are applying for a line of credit, negotiating a lease, seeking investment capital, or fulfilling contractual obligations, professionally prepared financial statements present your business in the best possible light and give stakeholders the confidence they need to move forward.

A set of prepared financial statements is the most cost-effective way to provide this information in a professional format. Unlike a full audit or review engagement, a preparation engagement does not provide assurances about the underlying information behind those numbers, which makes it significantly more affordable while still meeting the requirements of most banks and business partners.

What We Prepare

At Lanphier LLP, we prepare financial statements that are clear, accurate, and formatted to professional standards. Our financial statement preparation services cover the core reports that Denver businesses most commonly need.

Types of Financial Statements

• Balance Sheet (Statement of Financial Position) -- a snapshot of your assets, liabilities, and equity at a specific point in time
• Income Statement (Profit and Loss) -- a summary of your revenues and expenses over a given period
• Statement of Cash Flows -- tracking the movement of cash into and out of your business
• Statement of Changes in Equity -- documenting changes in owner equity over the reporting period

Financial statements can be presented with or without disclosures, depending on the requirements of the requesting party and the level of detail appropriate for your situation. We will work with you to determine the right format for your needs.

When You Need Financial Statements

Many Denver businesses find they need prepared financial statements in situations such as applying for business loans or lines of credit, responding to requests from bonding companies in the construction industry, satisfying requirements from investors or partners, meeting contractual obligations with vendors or clients, and supporting business valuations or sale transactions.

Our Approach

We assist our clients in providing this information when needed in a professional format and in a timely manner. Because we work closely with many of our clients on bookkeeping and tax preparation, we often have a thorough understanding of their financial data before the preparation engagement even begins. This allows us to deliver financial statements quickly and at a lower cost than firms that are seeing the data for the first time.

For businesses that maintain their own books, we review the underlying accounting data as part of our preparation process to ensure the statements accurately reflect the financial position and results of operations. If we identify any issues or discrepancies, we will work with you to resolve them before finalizing the statements.

Contact our firm today to discuss your financial statement needs and how we can assist you. Our team is ready to help your Colorado business present its financial information professionally and on schedule.