Northwest Arkansas CPA firm providing bookkeeping, tax, and CFO services for small business owners
Financial statements your lender, surety, and licensing board will accept.
CPA-prepared compiled and reviewed financial statements for Northwest Arkansas businesses — including commercial contractors who need them to get or renew an Arkansas license.
Free Consultation. No Pressure and no jargon.
You might need one if…
→You're applying for or renewing an Arkansas commercial contractor license
→Your bank asks for CPA-prepared statements on a loan or line of credit
→Your bonding company wants year-end financials
→A grantor, investor, or buyer wants statements from an independent CPA
Compilation or review — what's the difference?
Both are financial statements prepared by an independent CPA under AICPA standards (SSARS). The difference is how much the CPA checks — and how much confidence the reader gets.
Compilation
We assemble your financial statements from your records and present them in a professional, standard format. We don't test the numbers, so a compilation provides no assurance — but it shows you're working with a CPA.
Balance sheet, income statement, and CPA's compilation report
Footnotes optional, depending on who's asking
Fastest and most affordable option
Common for: Arkansas restricted commercial licenses, smaller bank loans, internal use
Review
We go further: analytical procedures and inquiries of management to see whether anything looks materially off. A review provides limited assurance — a meaningful step up that lenders, sureties, and regulators rely on.
Full financial statements with footnote disclosures
CPA's review report stating limited assurance
Less costly than an audit, with much of the credibility
Common for: Arkansas unrestricted commercial licenses, bonding programs, larger credit lines
HOW WE HELP
Your contractor license depends on a CPA-prepared financial statement.
In Arkansas, any commercial project of $50,000 or more (labor and materials) requires a license from the Contractors Licensing Board. Every new and renewal commercial application must include a financial statement from an independent CPA — and the type you need depends on the license you hold.
Restricted license
Projects under $1,500,000
Requires: Compiled statement
Limited to single commercial projects under $1.5 million in labor and materials
Compilation report letter from an independent CPA
Balance sheet on GAAP or income-tax (accrual) basis
Footnotes not required
Unrestricted license
Projects of any size
Requires: Reviewed (or audited) statement
No project-size cap
Review report (or audit opinion) from an independent CPA
Balance sheet on GAAP or income-tax (accrual) basis
All footnotes to the balance sheet included
Rules that apply to both
Independent CPA only
Statements can't be prepared by an in-house CPA.
Less than a year old
Measured by the statement's "as of" date — not the date it was signed.
It sets your expiration date
Your license expiration is tied to the date of the financial statement you submit.
Half of net worth in cash
Half of your classification's net worth requirement must be cash in the bank — not receivables or stockholder notes.
Hear from our Clients!
“Can't say enough good things about Calibrate. Annual tax filings are only a small part of what they do for us. Jake and his team maintain our books and provide high-level CFO strategy for our business on an ongoing basis. Someone is always available to provide solid advice and direction as things come up.”
— Brian Warner, Tectro IT (VIA GOOGLE REVIEWS)“It’s rare to find a CPA, bookkeeper, and tax professional all in one place who actually delivers this kind of service. Calibrate CPA runs their business with professionalism, clarity, and care. Jake made the entire process smooth, stress-free, and handled things with excellence from start to finish.
If you’re looking for a team that truly knows what they’re doing and treats you like a priority, Calibrate CPA is the one you want. Highly recommend!”
— Chase Hampton (VIA GOOGLE REVIEWS)“As a young business in NWA, having Jake as our CPA has been absolutely essential. He’s not only incredibly knowledgeable but also always available and willing to guide us through any question or challenge we face. His expertise and patience make him much more than a CPA, he’s truly a trusted advisor for our business. Highly recommend!”
— pAOLO pIRANIO (VIA GOOGLE REVIEWS)