State & Local Governments
The most important objective of financial reporting for state and local governments is to help assess accountability by regulating compliance with finance-related laws, rules, and regulations. To achieve this goal, must systemize and operate their accounting systems on a fund basis.
The accounting and reporting standards formulated by the Public Sector Accounting Board must be adhered to and adopted by all levels of government. Accounting not only involves presenting statistics in financial statements, but also provides a basis for management decisions. As tax laws are constantly changing, a core team consisting of professional accountants will review and help you assess your tax returns, financial statements in order to find opportunities for important tax reduction strategies.
At Faris CPA, we review and help you understand your tax returns, financial statements and the record books and entries that make up those financial statements.