Bebida Beverage Company (BBDA)

[Budcat]

Wishing for BBDA audited financials.

http://www.allbusiness.com/trends-events/audits/14329524-1.html

When Should Your Business Get Audited Financial Statements?

There are four kinds of financial statements. 1) Internally prepared 2) CPA compilation, 3) Reviewed, and 4) Audited. Each type is considered by the accounting industry as being more reliable than the one below. As you get higher on the list, the cost of each goes up.

Audited financial statements carry the highest level of reliability according to the accounting industry. They are also the most expensive. Many business owners wonder when they should spend the time and expense for audited set of financials.

Audited financial statements are very stringent examinations of your company, its financial processes. When an auditor gives an unqualified opinion as to the financial health of your company it has many implications.

With the costs of having audited financial statements ranging from $20,000 to $50,000 annually depending on the complexity of your company, it’s a serious commitment.

If your company has many shareholders, getting audited financial statements is potentially worthwhile. The higher the number of shareholders a company has the greater the chance that one of them may bring litigation as a result of business practices. Audited financial statements may help reduce the cost of litigation and may even prevent it.