Our Services

We perform regular and special audits of financial statements and other reports in accordance with generally accepted auditing standards, and report on the fair presentation of financial position and results of operations in accordance with generally accepted accounting principles. The scope of our examinations is determined by a complete review and evaluation of the accounting procedures followed and the internal controls in effect.

At the start of every audit, we study and evaluate our client’s accounting policies, procedures, and system of internal control. We then tailor our audit procedures for that specific client. At the conclusion of the audit, we prepare a ‘Management Letter’. This is a report which suggests and recommends ways to improve operations, accounting procedures, and internal controls. Important weaknesses in internal control or other significant matters are reported as noted during the examination to permit prompt action to be taken.

As not all companies require/need financial statements, we also perform two additional services termed ‘compilation’ and ‘review’ which are particularly useful to the smaller privately held company.

By compilation, we mean the preparation of monthly, quarterly or annual financial statements without offering assurance as to whether they are in conformity with generally accepted accounting principles. In a compilation, we present the company’s financial data in conventional financial statement form without probing further, unless we become aware that the data is in error or incomplete. Our report accompanying the compiled financial statements states that the financial statements were compiled based on the representations of the company’s management and because they were not audited or reviewed, no opinion is expressed.

By a review, we mean asking questions of company personnel and applying analytical procedures to the company’s financial data. Our report accompanying the reviewed financial statements expresses limited assurance in that we are not aware of any material modifications that should be made to the financial statements for them to be in conformity with generally accepted accounting principles. In reliability or usefulness, a review is between a compilation, which provides no assurance and the audit, which provides positive assurance that the financial statements are in conformity with generally accepted accounting principles. A review may involve the compilation of the financial statements, but it goes several steps beyond.

In addition, we provide regular monthly and/or quarterly accounting services which include among others, the preparation of forms required by state and federal authorities for those periods.

Our main objective in this area is the preparation of accurate and complete returns for our clients while minimizing their tax liability. To accomplish this, we utilize the opportunities provided by the statutes, regulations and/or case law. We place special emphasis on tax planning for the closely held corporation, its stockholders, and corporate executives. This includes estate planning, and corporate reorganizations.

In the International field which is an area in which we are continuously involved, our services include among others, the preparation of federal, state, and estate tax returns of foreign companies, resident or non-resident alien individuals, and assistance in the planning of the procedures to follow in their investments in US real property and businesses. We also participate in the planning of outbound transactions by US and foreign owned businesses, and in the preparation of individual income tax returns for US citizens or residents living outside the US. Finally, when required by pertinent laws or regulations we prepare the forms mandated of foreign persons or business by the Departments of Agriculture and Commerce.

Our firm has the depth and technical knowledge necessary to serve clients in a wide range of areas such as administrative and accounting systems, data processing, financial planning and controls, start-up strategy, and feasibility studies. We bring to every engagement a thorough understanding of the issues involved and a proven track record.

Businesses critically need technology services today. Qualified CPAs as trusted advisors to their clients are the logical professionals to administer these services. Mendive & Garcia, LLC assists clients with regard to technology processes such as accounting, manufacturing, human resources, document management, customer management and sales order systems.