Accounting and Auditing

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Accounting and Auditing

Assessing and Reporting Your Financial Health 

Your financial statements are critical to evaluating and monitoring your financial condition and operational results. At WellsColeman, we offer three levels of financial statement reporting to fit every business’s needs.

Audit

The first is an audit, which is the most extensive type of financial statement reporting. An audit ensures your records are in accordance with professional accounting standards and are a fair and accurate presentation of your transactions. Thanks to our in-depth understanding of your operations, our audit approach can also target your essential operations and head off any problems while still in the planning stages.

Review

A financial statement review, which involves analytical procedures and inquiries of company personnel, provides limited assurance of compliance with accounting principles. A type of reporting may be appropriate for your business if you need financial statements for third parties, such as creditors, suppliers or regulatory agencies.

Compilation

The third level of reporting is a financial statement compilation. We prepare a compilation solely from information provided by your company without any analytical procedures or reviews. Although there is no assurance of the compliance described above, this level of reporting may be sufficient for businesses requiring financial statements for internal use only.

Accounting & Audit

Accounting and Auditing Services

Accounting and auditing services are a primary component of our practice. We offer a broad range of services to meet the needs of different types of businesses in a variety of industries.

Financial Reporting
  • Audits
  • Budgets
  • Compilations
  • Reviews
  • Interim Statements
  • Financial Statement Preparation
  • Forecasts and Projections
  • Agreed Upon Procedures
Client Accounting Services
  • Accounting Services, including bank reconciliations, depreciation calculations, and preparing audit schedules
  • Monthly close support and Financial Statement Preparation
  • Transaction Processing Services
  • Accounts Payable, Accounts Receivable, Payroll and General Ledger Systems
  • Strategic Planning, Budgeting, Profitability, and Cash Flow Analysis
  • Financial Policies and Operational Procedures Creation or Review
  • Accounting system consulting, design and implementation
  • Depreciation and Amortization Schedules
  • Tax Planning, Preparation and Filing
Employee Benefit Plans
  • 401(k) and Defined Contribution Plan Audits
  • 403(b) Tax-Sheltered Annuity Plan Audits
  • Defined Benefit Plan Audits
  • Employee Stock Ownership Plan Audits (ESOP)
  • Health and Welfare Benefit Plan Audits
  • Form 5500 Preparation and Filing
  • Full-Scope Audits and Limited-Scope Audits
  • Consulting Services
Mergers and Acquisitions
  • Business Valuations
  • Derivative Financial Instruments
  • Due Diligence and Transaction Support (accounting, financial, operations, cash flow analysis and more)
  • Merger Risk Management / Acquisition Risk Assessment
  • Post-transaction Activities

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