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kbot24
Joined: 01 Mar 2007
Posts: 2
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| Posted: Fri Mar 02, 2007 12:18 am Post subject: whose job is it? |
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Can a bookkeeper do financial statements for a client?
Corporation minute, filing annual report to Department of Director, setting up by law,etc. Do these duties belong to a Bookkeeper or an Attorney? |
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JerryWeygandt
Joined: 13 Dec 2006
Posts: 86
Location: Brentwood, TN
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| Posted: Fri Mar 02, 2007 9:23 am Post subject: |
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The bookkeeper would certainly have a significant role in the financial statements. If the statements need to be certified, then the corp would need a CPA to review and sign-off on the statements.
The minutes are usually recorded by an officer of the corp. or someone reporting to them. The bylaws would also be set-up by the corp officers, not the bookkeeper.
I am not sure what the annual report to the Department of the Director is.
Does that help? |
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kbot24
Joined: 01 Mar 2007
Posts: 2
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| Posted: Fri Mar 02, 2007 12:31 pm Post subject: |
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| Thanks for the reply, that certainly does help. I was wondering whether there are any laws that prevent a bookkeeper from doing financial statements, because a CPA has to follow the guidelines from AICPA to do compilation service. |
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JerryWeygandt
Joined: 13 Dec 2006
Posts: 86
Location: Brentwood, TN
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| Posted: Fri Mar 02, 2007 2:51 pm Post subject: |
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| A business can have anyone do the bookkeeping that it wants. However, if those financial statements are going to be used outside of the business by an outsider like an investor or loan officer, they probably want some assurance that accounting procedures have been followed and that would then require a CPA. |
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