Financial Statement Analysis

Helping you identify anomalies in reported information

A financial statement that is inaccurate isn’t worth the paper it is printed on. After all, they are just numbers unless there is substance behind them. While the firm is not involved in providing financial statement audits (which are the highest level of assurance offered for financial statements), the firm provides financial statement analysis for many different purposes. Financial statement analysis can provide indicators of whether there could be anomalies in reported information.

Litigation/Adversarial Process

Most often, financial statement analysis is requested by clients due to current or impending litigation or other adversarial processes. Sometimes these services are requested by the person providing the information to the court, and other times these services are requested by the other party who wants to know if the numbers reported are reasonable. While the firm cannot provide a guarantee that the figures are accurate or not, we can determine whether the numbers reported are reasonable within the context of other available information that is provided.

The two most common examples in which I provide financial statement analysis for clients involved in legal/adversarial process are in family law situations (financial impacts of property settlement, alimony, and/or child support) and civil litigation (whether a company has assets worth pursuing in litigation). However, I am willing and able to assist in financial analysis for other areas as well.

Internal Purposes

Sometimes companies want to know where they stand in relation to themselves (prior years), their competitors (performance over the same reporting period), and where they can possibly go in the future (financial forecasting based on past results and reasonable assumptions).

The most proactive and successful companies are those who look to the future, as they are in the best position to determine their course over time. Reacting to only past information does not predict business survival. Looking to the future also encourages companies to set goals for operations, which can be measured using financial benchmarks such as revenue, profitability, and growth rate.

The Firm’s Process of Providing Financial Statement Analysis

There is an important information-gathering process involved in providing financial statement analysis. The type of information needed from the client will depend upon the type of analysis the client is seeking. However, in most cases, the quality of the analysis is based upon the amount of meaningful and relevant information that the client provides.

Firm Pricing for Financial Statement Analysis

The firm charges a rate of $175 per hour for financial statement analysis. A minimum retainer is required before services are rendered. Because scope of work differs greatly in this area (based upon client needs), the retainer will differ as well. For clients who are interested in financial statement analysis, please contact us using the information on the “contact us” tab and we can arrange a quote based on estimated scope of work.

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