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3 Financial Statements: Balance Sheet, Income & Cash Flow What is the difference between a compilation, review, and audit A financial statement compilation is when an outside accountant turns a business's bookkeeping data into financial statements.
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Financial Statement Levels: Compilation Your bank may require a financial statement in order to secure a business loan. Honestly, “spreadsheets” are kind of the vegetables of the business world -- the very idea of them makes some people queasy. There are three levels of financial statement engagements: audited, reviewed and compiled. Tim Valentino of H&J CPAs explores
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