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CPAs vs. Non-Certified Accountants: Clearing up the confusion
A discussion about the difference between CPAs and non-certified accountants in terms of their educational background and services they can or cannot perform for the public.

Other audited financial statement Related Articles

Don't Adjust My EBITDA
In my first business, we didn’t have a line for EBITDA on our financial statement. We went straight to Net Income. We knew our cash flow from our statement of cash flows (and our bank account which we checked regularly since we were self funded.) We never talked about EBITDA, nor did we ever feel the need to come up with things like “Adjusted EBITDA.”

How to Create a Compelling Vision for your Business
Your company’s vision statement is the statement of its potential and of what you want your business to become. Your vision statement should be meaningful to you and your organisation. It should be shared will all of the employees in your organisation in order to create a unified direction for everyone to move in. Crafting a vision statement is a challenge for many business owners, so I have included several strategies in this article for you to make this process easier to complete.
Impress your bank manager! How to read your profit & loss account report
If you are relatively new to the business arena, you’re probably not too good at reading financial statements. But for someone who is planning to start a small business, it is crucial to learn how to read financial statements and understand what they mean. Today, we are going to discuss one type of financial statement called the profit and loss statement. A profit and loss statement is a summary of your income and expenses over a certain period of time, usually a quarter or a year. The profit and loss statement is important because it helps you to understand the profitability or financial condition of your company over that certain period of time.
Do We Really Need a Mission Statement?
Many organizations confuse the concept of a vision statement with a mission statement. They might say, "Our mission is to become the world leader in windows." Well, that is reallly a vision statement, not a mission statement. A vision statement is always about the future, while a mission statement is all about what we are trying to do today. It is very important to know that. This article will clarify a process to obtain a good mission statement.

I Have my Competitors or Customers Financial Statement – Now What?
The article discusses basic techniques in analyzing and understanding a competitor or customer financial statement, with emphasis on the non- financial professional .
Understanding the Income Statement
Income statement can be viewed as a summary and final evaluation of company’s business activities for the past fiscal year. We will discuss the components of an income statement, their classifications and the ways it is connected to the other financial statements. After reading this article you will have a basic understanding of accounting principles behind the statement of earnings.
How to Avoid or Resolve a Tax Audit and Protect the Future of Your Business
With IRS audits on the rise, knowing how to avoid or resolve tax problems could save you money and protect your financial future. For anyone planning to start and/or grow your business, it is more important than ever to know what triggers an audit, how to avoid being audited and how to get tax help if the IRS is after you.
Accounting Basics
In part one of this article I detailed what accounting is and why it is important to your small business. In part two, I will go into greater detail on the three parts of a financial statement: the balance sheet, income statement, and cash flow statement.

An Accountant's Representation of a Franchise Client
The articles discusses the franchise laws and how they affect both franchisors and franchiees and the specfic needs that these types of clients have for their tax and accounting needs. This includes the special financial accounting requirements of franchisors including audited financial statements and the reporting of franchisor income and expenses. This also includes the needs of prospective fanchisees in preparing a busines plan and setting up a new company to operate the franchised business.This will help accountants better understand these types of clients and facilitate the accountnt's interaction with the attorneys for franchisors and franchisees.

Audits: Always Be Prepared
Don't ever assume you won't be audited. It can happen to anyone and you need to be prepared. What many people overlook is that you will need much more than your receipts to be properly prepared for an audit. We have provided a list of items you should keep in mind at all times in case you are later audited:
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