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General Accounting

General Accounting

Accounting guidelines and regulations are an ever-changing entity in today’s national and global economy. Generally Accepted Accounting Principles (GAAP) is the basis of financial accounting and is recognized as the standard for federal financial accounting. As such, it is a wise decision to have a Certified Public Account (CPA) with expertise in the industry handle your agency’s accounting.

Brooks Financial Strategies specializes in the healthcare industry, however we have a diverse clientele across a variety of industries. We provide general accounting services and reconcile monthly financial data to produce financial reports. General accounting is a process to classify, record, measure, verify, summarize, interpret and communicate financial information. Monthly financial reporting reveals profit or loss for a given period, the value and nature of a firm’s assets, liabilities and owner equity. To deliver reconciled financial products, we gather an organization’s monthly data to produce the following:

  • Balance Sheet
  • Income Statement
  • General Ledger
  • Statement of Cash Flows
  • Break-even Analysis (number of patients needed to cover expenses)
  • Profit Analysis (compares your agency to industry averages)
  • Bank Reconciliations
  • Payroll Reconciliations

At Brooks Financial Strategies, we provide additional services including payroll, corporate valuations, and corporate tax filing services.