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This level involves our summarizing data supplied by you in the format of financial statements. Financial statements usually consist of a balance sheet and profit and loss statement; a cash flow statement or footnotes may or may not be included. This engagement is usually suitable for interim reporting and, occasionally, year-end reports. No level of assurance on the financial statements is given by us as CPAs.
This mid-level service necessitates that we apply analytical procedures to the financial statements. Using our professional judgment, we ask you about your record keeping system and document certain key account balances. The depth of our work is sufficient for us to report that nothing came to our attention to indicate that your statements are not in accordance with generally accepted accounting principles. This engagement is usually suitable for year-end business reporting.
A full set of financial statements with footnotes is required at this level.
This is the highest level of assurance we can provide as CPAs. We give our opinion as to the fairness of presentation of your financial statements in conformity with generally accepted accounting principles.
This type of engagement is usually requested by larger companies, non-profit organizations, municipalities and schools. Banks and bonding companies may also require an audit.
Contact us to discuss which level of service is appropriate for your needs.
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Cummings, Lamont & McNamee offers a variety of services to clients in the governmental sector.
Foremost among these services is the performance of the annual audit. Our firm has significant experience in governmental auditing including performance of the procedures required under the Federal Single Audit Act.
It is our routine practice to issue a letter to management at the conclusion of each audit engagement in which we outline specific recommendations to improve accountability and/or the system of internal accounting control. We meet with the governing board if requested to present our report and findings. We are deeply committed to "following through" with assistance in implementing the suggestions we make.
In addition to performing the annual audit we are also able to assist governmental units in:
- Design and implementation of accounting systems
- Computer software and hardware selection and training
- General ledger implementation
- Preparation of accounting procedures manual
- Screening applicants for accounting related positions
- Training financial personnel
- Operational audits
- Investigative accounting services
For reference purposes, a list of the governmental clients we serve can be provided on request.
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We at Cummings, Lamont & McNamee recognize and appreciate the importance of
the hospitality industry to Maine and New Hampshire, and we have committed
ourselves to being able to service the very special needs of our clients in
this industry. To that end, we have trained members of our professional staff
to understand, recognize, and identify various issues unique to restaurants,
bars, hotels and motels.
Services available to our hospitality business clients
include, but are not limited to, the following:
- In-house accounting and bookkeeping services
- Payroll processing and record keeping
- Resources for the following:
- menu-sales analysis
- menu-costing analysis
- POS system
- food-cost analysis
- inventory control analysis
- weekly financial information gathering and analysis
- accounting system evaluation, selection and implementation
- cash flow analysis
- employee incentive programs
- Tax planning and preparation
- Audit, review and compilation engagements
- Business valuations and estate planning
- Certified Quick Books Advisor
MEMBERS: NH Restaurant & Lodging Association
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