Compilation Report Essay Example for Free

Compilation Report EssayWe have compiled the accompanying balance sheet of Proli Footwear, Inc. as of December 31, 2014, and the related statements of income and retained earnings and cash flows for the year then ended. We have not audited or reviewed the accompanying monetary statements and, accordingly, do not express an opinion or go away any toast about whether the financial statements are in accordance with accounting principles loosely accept in the fall in States of America. counselling is responsible for the preparation and fair intromission of the financial statements in accordance with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements. Our responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review run issued by the American Institute of Certif ied Public Accountants.The objective of a compilation is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements. Management has elected to omit substantially all of the disclosures and the statements of cash flows required by accounting principles generally accepted in the United States of America. If the omitted disclosures and the statements of cash flows were included in the financial statements, they might influence the users conclusions about the Companys financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about much(prenominal) matters.