Accounting and Financial Reporting
As a full-service accounting firm, LTSP, Inc. provides a complete range of accounting services which include the following:
Compilation / Preparation of Financial Statements
While a business frequently may need financial results presented in a proper format (for creditors, bankers, and owners, for example), often there is no need for audited or reviewed financial statements. A compilation or preparation of financial statements engagement can serve the needs of the business in an economical manner by using management’s financial results to prepare financial statements for the business that fit within a generally accepted format.
Trust Accounting Services
Fiduciaries must often make periodic reports of their stewardship to beneficiaries of the trust or estate and, in some cases, to the courts as well. At LTSP, Inc. we will design financial statements to meet the needs of the particular trust or estate in a format that meets the desires of the beneficiaries and other users that control the level of details disclosed, and the format for these financial statements. Therefore the format of the Trust reporting may vary from client to client. However, two aspects of financial information will generally be presented: 1) the assets, liabilities, principal and income balances of the trust or estate at a point in time, and 2) the activity of the trust or estate during a period of time. Current reliable information helps Trustees in making decisions as well as discharging their fiduciary reporting responsibilities.
Assistance in Closing Your Books
The advent of reasonably priced personal computers and user friendly software has forever changed our industry by making it cost effective to generate financial statements internally. This does not mean, however, that the business owner understands whether the financial statements generated from their internal accounting software are accurate or reliable. At LTSP, Inc. we have professionals familiar with a variety of accounting software programs to assist you in closing your monthly books. We take the time to understand your business. As experienced business advisors, we offer consultation to evaluate your business’s results and suggestions to improve problem areas.
Controllers for Hire
If you’re a business that finds yourself in-between controllers, give us a call. Not only can we provide high level accounting professionals to fill the gap, we can also assist you in finding a qualified permanent replacement.