Call Now Book Now
Catalyst CPA
Call Now Book Consultation

Financial Statements Preparation

Wooden desk with financial documents, a pair of glasses, a fountain pen, and a calculator; an office receptionist sits at a desk in the background.
Financial Statements

GAAP Financial Statements For Lenders, Investors, Boards

Compiled • Reviewed • Audited — by a licensed CPA

When a lender or investor asks for "CPA-prepared financials," they want a specific deliverable. We prepare each level to professional standards.

Get Your Free Quote →📞 (951) 223-1826
✓ Licensed CPA #158599✓ $1M Audit Defense✓ Free 30-Min Consultation
Detailed financial statements on professional desk

Three Levels of Service

Pick the assurance level your audience requires.

Compilation (SSARS 21)

CPA prepares financial statements based on information provided by management. No assurance expressed. Most common for SBA loans under $750K and internal use. Cost: $1,500-$3,500.

Review (SSARS 21)

CPA performs analytical procedures and management inquiries. Provides limited assurance ("nothing came to our attention..."). Required by some lenders, investors, and franchisors. Cost: $3,500-$8,000.

Audit (AICPA Standards)

Full audit with testing, observations, and confirmations. Positive assurance ("present fairly, in all material respects..."). Required by most banks for larger loans, M&A due diligence, and public-company subsidiaries. Cost: $8K-$25K+.

When You Actually Need These

Real triggers from clients we\'ve helped.

SBA Loan / Bank Financing

Standard SBA 7a or 504 usually wants compiled statements + tax returns. Banks may require reviewed for $1M+ lines of credit.

Business Sale / M&A Due Diligence

Buyers typically want reviewed or audited statements for the last 3 years. If you\'re planning to sell in 12-24 months, start now — clean books take time.

Investor Pitch / Series A

VCs and angels typically want reviewed statements at minimum. Some skip statements and rely on QoE; we can prep for that too.

Franchise Application

Most franchise systems require statements for franchisee approval. Level depends on franchisor — we check requirements first.

Government Contracts

Federal and state contractors need audited statements depending on contract size and type. DCAA-compliant statements are a specialty service.

Nonprofit Board Reporting

Boards of directors and major donors often require independent financial statements. Reviewed is standard for $500K-$2M nonprofits.

Financial Statements — Frequently Asked Questions

What's the difference between compiled, reviewed, and audited?

Compiled = CPA prepares statements from your data with no opinion (most basic, $1,500-$3,500). Reviewed = CPA performs analytical procedures and inquiries (limited assurance, $3,500-$8,000). Audited = CPA verifies through testing and observation (positive assurance, $8,000-$25,000+). Your lender or stakeholder dictates which level you need.

Do I need audited statements for an SBA loan?

Usually not. Most SBA loans (7a, 504, Express) accept tax returns + interim P&L + balance sheet. Loans over $750K or specialized SBA programs may require reviewed or audited. We confirm with your loan officer before quoting.

Can you do GAAP statements?

Yes — we issue statements in conformity with GAAP (Generally Accepted Accounting Principles), which is required for most external uses. We can also issue on a tax basis or cash basis if the user prefers and the recipient allows.

How long does preparation take?

Compiled: 5-10 business days from clean trial balance. Reviewed: 3-5 weeks. Audited: 6-12 weeks. Faster if your bookkeeping is current; slower if cleanup is needed first.

What documents do you need?

Trial balance, prior-year statements, bank statements (all accounts, full year), loan agreements, capital contribution records, equity events (sales, redemptions), aged AR/AP, inventory listing, major contracts. We send a complete checklist.

Need CPA-Prepared Statements?

Free 30-min scoping call. Flat-fee quote in 48 hours. Inland Empire local.

Get Free Quote📞 Call Now
📍 Moreno Valley📍 Riverside📍 Corona📍 Eastvale📍 Murrieta📍 Temecula📍 Ontario📍 San Bernardino📍 Remote (US)

Explore Related Services

Bookkeeping →LLC Formation →CA Payroll Services →Business Tax Returns →