Strategic Program & Financial Management
Are you looking to grow your business through strategic ﬁnancial management? If so, business success and greater achievement starts here.
At Kinetic CPA Group, LLC, our fractional Controller and Financial Management services provide you with the ﬁnancial clarity you need to make conﬁdent business decisions and achieve more. Imagine what you will achieve with ﬁnancial conﬁdence when you have access to routinely updated ﬁnancial and non-ﬁnancial KPIs for your company.
We provide you with the best of class technology solutions tailored to your company's needs, and a highly trained and motivated ﬁnance and accounting staﬀ—all at the fraction of the cost of managing these processes internally
At Kinetic CPA Group, LLC, we focus on being your trusted advisor and helping you succeed in your own mission through
strategic ﬁnancial management. That's why our ﬁnance professionals stay connected with you through routine online ﬁnancial management meetings where your monthly, quarterly and annual ﬁnancial results are reviewed and discussed. From there, our ﬁnancial managers drill down into your unique operating metrics to identify ways to improve your ﬁnancial performance.
Financial Statement Reviews
Stockholders, creditors, and private investors often need assurance that the ﬁnancial statements accurately represent the true ﬁnancial position of a company.
Your stockholders, creditors, or private investors have diﬀerent levels of risk tolerance. CPAs can provide four levels of ﬁnancial statement services. You can ﬁnd an overview in the AICPAs Guide to Financial Statement Services.
At Kinetic CPA Group, LLC, we can provide services related to Preparation, Complilation, and Review engagements. We often have clients ask us if we can perform audits or "audit" their books. Oftentimes this results in a conversation with the client about their needs and intentions. Audits can be very costly and for most clients the level of assurance provided by an audit is either not necessary or simply not cost eﬀective.
You can ﬁnd more information on the level of services below, in order from most costly to least costly.
Review - Limited Assurance
Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the ﬁnancial statements, and various inquiries we make of your company's management team. If the ﬁnancial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.
A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modiﬁcations" for the ﬁnancial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed ﬁnancial statements must include all required footnotes and other disclosures.
Why might a business request a review engagement? It can be a good middle ground between a compilation and an audit, providing the advantages of a CPA's technical expertise without the work and expense of an audit.
Compilation - No Assurance
In compiling ﬁnancial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements.
Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.
Preparation - No Assurance
In preparing ﬁnancial statements for a client, the intended use of the information is for business owners to manage their business. This is similar to what an in-house controller or CFO would provide.
Like compilations, preparations don't require inquires of management or analytical procedures. Unlike compilations, preparation engagements do not require a formal CPA report - and none will be issued.
Which report should you use? Each type of ﬁnancial statement report may suit speciﬁc circumstances, depending on the requirements from your bank or other parties.
Contact Kinetic CPA Group, LLC today to let us help you choose the most appropriate one.
Kinetic CPA Group, LLC assists companies overcome the demanding business challenges by providing management level accounting and ﬁnance professionals with extensive expertise.
We oﬀer specialized expertise on an as-needed basis and can manage internal projects as well as support existing internal resources.
Our Technical Accounting Services include:
- Resolving complex accounting issues and preparing accounting memos and white papers
- ASC 606 Revenue Recognition Projects
- Audit Readiness – preparing PBC, white paper, close books and assist in pre-auditing numbers
- Assist with month-end and quarterly close
- Convert US GAAP ﬁnancial statements into IFRS ASC 842
- New Lease Accounting Adoption
Our team has the experience and industry specialization you need to get the results you expect.
Government audits present unique challenges to government agencies and their divisions. Resources are often stretched, positions are challenged, and ﬁndings can impact organizational reputation—and require costly remediation.
Kinetic CPA Group, LLC's governmental and auditing experts work closely with your key stakeholders to ensure records are clear, regulations are scrupulously followed, and operations are compliant. Our involvement helps your organization maintain a state of perpetual readiness for audit...and endure and emerge from the process with minimal impact.
During our audit readiness process, our specialized government consultants identify potential weaknesses and areas for improvement, while working to improve the eﬃciency of your operational functions.
The Kinetic CPA Group, LLC team has deep audit experience with both private- and public-sector entities, so we know what auditors are looking for. We provide the following services to prevent damaging ﬁndings—and put you in the best possible position to successfully navigate an audit:
- Clear documentation and evaluation of current controls. We begin each engagement by reviewing and documenting your organization's current controls to level-set—and identify areas for improvement.
- Pre-audit testing. Our team runs multiple audit scenarios to test internal controls and ensure compliance.
- Review ﬁnancial reporting processes. We work to understand your ﬁnancial reporting processes to identify weaknesses and to implement improvements.
- Post-audit remediation. Following an audit, our team collaborates with stakeholders to implement changes, design new processes, and implement reliable controls to prevent future audit issues.
- Objective input. When working through complex accounting issues, our team provides objective, third-party insights, and oﬀers appropriate recommendations for productive changes.
- Hands-on accounting consulting. Our team works with yours to develop and implement new accounting pronouncements, and to encourage organizational adoption of recommended changes.
To learn more, please contact us below.