Different types of enterprises have different accounting needs.

Certified public accountants perform other accounting services in addition to audit and income tax services. These services are primarily preparation of financial statements and bookkeeping services.

Skelton, Bryant, Bryant & Scarboro, P.A. recognizes that different types of enterprises have different accounting needs and has developed a set of standards to widen the range of services certified public accountants offer relating to financial statements. In addition to the traditional audit of financial statements, there are two additional services — compilation and review — which are particularly useful to smaller, privately-held companies.

A compilation is simply the preparation of financial statements without performing any audit or review procedures. The accountant's report states that the statements were not audited or reviewed and that no opinion is expressed.

A review entails some additional procedures. The accountant may make inquiries related to the financial statements and apply certain analytical procedures to satisfy himself that the financial statements appear reasonable. The accountant's report states that a review has been performed and expresses limited assurance as to the form and content of the financial statements.

Bookkeeping services consist of the recording and summarization of accounting transactions for the client. Payroll tax returns and other reports may be prepared as part of this service, and financial statements may be compiled on a monthly, quarterly, or annual basis. Included among our clientele are a large number of privately-held companies that benefit from our compilation and review services. These valuable services are always performed in a thorough and professional manner. Skelton, Bryant, Bryant & Scarboro, P.A. also performs the bookkeeping function for a number of our clients. Compilation of financial statements, usually on a monthly basis, is included in this service.