Accounting Services

Our accounting services provide clear and tangible benefits to you. We will be your professional partner in meeting your accounting and information needs. McNair and Associates has the depth and breadth within our Accounting Services Department to help you obtain reliable and timely accounting information, allowing you to make relevant business decisions.

Capability – The size and experience of our staff ensure your needs and questions will be dealt with quickly and effectively.

Continuity – The stability of our firm’s resources not only reduces your dependence on employees, but also reduces vulnerability to turnover and other employee changes.

Confidentiality – Sensitive matters may be outsourced to us, alleviating concerns regarding internal and external disclosures of confidential information.

Services – One strength of our firm is matching your needs with our capabilities. We offer all the services an internal accounting department can provide your business, either as a whole or any of the component parts. These services can be provided on a periodic basis (i.e., monthly), on a special project basis, or on an emergency basis.

Costs and Fees – Well planned, targeted accounting services are cost effective. We understand the goal of business is to accomplish its administrative and information functions in a cost-effective manner. We will help you to determine that manner, as well as to determine a cost-effective mix of internal and external resources for obtaining the accounting information you need to manage your business.

Bookkeeping – Bookkeeping is more than simply recording financial transactions in a ledger, it is an essential component of  your company’s accounting processes. We offer accurate, comprehensive and cost-effective bookkeeping services and will even train your personnel on QuickBooks ™ upon request.

Compilations and Reviews – Compiled Financial Statements represent the most basic level of service CPAs provide with respect to financial statements. In a compilation, the CPA must comply with certain basic requirements of professional standards, such as having a knowledge of the client’s industry and applicable accounting principles.

Upon completion, a report on the financial statements is issued that states a compilation was performed in accordance with AICPA professional standards, but no assurance is expressed that the statements are in conformity with generally accepted accounting principles. Compiled financial statements are often prepared for privately held entities that do not need a higher level of assurance expressed by the CPA.

Reviewed Statements require that the CPA perform inquiry and analytical procedures in addition to the procedures described above for a compilation. Upon completion, a report is issued stating that a review has been performed in accordance with AICPA professional standards, that a review is less in scope than an audit, and that the CPA did not become aware of any material modifications that should be made in order for the statements to be in conformity with generally accepted accounting principles, or if applicable, another comprehensive basis of accounting. This is known as the expression of “limited assurance.” Reviewed financial statements are often prepared for entities that have bank loans, outside investors, or trade creditors, but those third parties do not require audited statements.

Financial Statements

McNair and Associates can provide periodic (monthly, quarterly, annual) general ledger and financial services for clients. We design the manner in which the information flows to our office. From this information, we input and process general ledger transactions, providing compiled or reviewed financial statements for our clients.

Our financial statement and general ledger services may be designed to provide varied accounting information, such as reporting separate companies or separate departments, comparing actual operations and performance to budget, and job cost information.

Clients often use our general ledger processing as a stepping stone, utilizing our general ledger services until the cost of internal accounting processing is justified. To facilitate this stepping stone process, we will provide the general ledger processing on an accounting software package which can be transferred to clients use at a later date. We will also provide support to internal personnel on utilization of software.