Welgaard provides several different types of financial statements for our clients. Working closely with you, our team can help determine what type of financial statement service best fits your business needs.
The level of assurance required by lenders is typically based on the size of the loan, the collateral, and their determination of overall risk. If your requirements are unclear, in many cases, we can speak with your lender about the level of service that will satisfy their requirements.
Financial Statement Preparation is intended for a business owner’s own use, to have current information in order to know the financial standing of the business, and to make business decisions accordingly. This service would be like what a CFO would provide for a larger company. Our team can prepare these in a frequency that is most useful for your business.
Financial Statement Compilation is the service of applying accounting and financial reporting knowledge to assist management in the presentation of financial statements; without providing any assurance on the financial statements. Compilations can be prepared for small, medium, and large businesses that do not need any assurance.
Financial Statement Review is a review that provides limited assurance that there are no material modifications needed to be made to the financial statements. Reviews are typically prepared for entities that have loans or investors that do not require audited financial statements.
A Financial Forecast is created to anticipate a company’s projected financial position. It estimates future revenue and expenses based on assumptions that are expected to happen. Forecasts are used to help our clients measure their progress and establish their business goals. Our team can provide preparation assistance and compilation services for prospective information.
Financial Projections represent a “what if” analysis and are based on three types of assumptions:
- Things that are expected to happen
- Hypothetical situations and events
- Things that would be expected to occur if the hypothetical situation happened.
Projections provide valuable information to a company in order to make important financial decisions for the future.
A Personal Financial Statement shows your net worth by presenting your assets, minus your liabilities at a certain point in time. This statement can be used to show an individual’s financial stability when applying for a loan or other credit.
No matter the level of financial statement your business requires, our team has the experienced staff here to assist you!
* Advisory Services offered through Honkamp Krueger Financial Services, Inc., a Registered Investment Advisor.
** Securities offered through ProEquities, Inc., a Registered Broker Dealer and member FINRA and SIPC. Advisory Services offered through Honkamp Krueger Financial Services, Inc., a Registered Investment Advisor. Honkamp Krueger Financial Services, Inc. and Welgaard Financial Services are independent of ProEquities, Inc. ProEquities provides financial products and services, and does not provide or supervise tax or accounting services. Advisors may provide tax, accounting, or other services through their independent outside business, but these services are separate and apart from ProEquities.
Please be advised that presently Stan Schuring holds Series 6 and 63 licenses in Iowa, Missouri and Colorado and Mike Ver Meer hold Series 6 and 63 Licenses in Iowa. For residents of other states in which registration is not held, proper license and registrations must be obtained before proceeding further. No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through ProEquities, Inc. will fluctuate in value and are subject to investment risk including possible loss of principal.