Accounting and Financial Reporting
As always, accounting services are the heart of a certified public accounting firm's practice. Our primary goals are to assist our clients in achieving their financial objectives and to add value through quality client service.
To accomplish those objectives, Frazier & Deeter utilizes only highly qualified professionals. Our members and senior staff are actively involved in all engagements to ensure that our clients receive the expertise they deserve.Our Approach
When providing accounting services, we utilize a risk-sensitive approach that takes into consideration the specific abilities of our client's internal accounting staff, any financial disclosure requirements and all federal, state and regulatory compliance issues. This approach minimizes risks by assessing the level of sophistication of our client's financial operations while at the same time minimizing excessive fees. We examine a company's operations with a fresh perspective and make observations and recommendations that are substantive, relevant and practical.
To give you a better idea about some of the specific accounting services Frazier & Deeter provides, we have outlined some of our offerings.Internal Control Review
An internal control review concentrates on the organization of the financial reporting structure and processes of a company. This review is different from most other accounting services because it concentrates on the control structure that produces the financial information and not on the financial information itself.
During an internal control review, Frazier & Deeter will study a company to identify its financial reporting strengths and weaknesses.
We will be particularly attentive to the weaknesses and explain to management how these weaknesses could adversely affect the company's ability to record, process, summarize and report financial information.
Read MoreWe will provide recommendations to strengthen the internal controls and consequently provide asset protection and assurance that transactions are executed in accordance with management's authorization. After Frazier & Deeter performs any accounting-related procedure for your company, you will receive a management letter or report that details our findings and recommendations.
Agreed-Upon Procedures
Performing agreed-upon procedures is a process of applying specific procedures to an area of a financial statement or within a specific accounting cycle. When agreed-upon procedures are requested, a member of the Frazier & Deeter team will meet with you to determine what specific goals you are trying to accomplish and the procedures that will help achieve those goals. Agreed-upon Procedures are then performed to provide management or others with an opinion regarding the fairness of information presented.
Ratio Analysis
Ratio analysis is the financial analysis of a company that identifies trends concerning the company's financial stability and ability to meet its current operational obligations.
The services are based upon comparisons with prior years as well as with similar companies within the industry. The information provided in ratio analysis will assist management in focusing on the company's financial strengths and weaknesses, as well as offer another way to interpret current financial information.