GAAP Financial Statement Adjustments – Ensure the school’s books are converted to full accrual basis and compliant with Generally Accepted Accounting Principles (GAAP) well before the annual audit. This service eliminates last-minute auditor adjustments by properly recognizing tuition revenue, Title IV funds, and expenses in the right periods. Value: it prevents surprises during the audit and addresses a common pain point for smaller schools that may initially keep “cash-basis” records – avoiding compliance issues since audited statements must be GAAP-accrual.

Internal Control Assessments – Evaluate and strengthen the school’s financial internal controls and Title IV fund management processes ahead of any official audit. With recent audit guidelines requiring management to attest to the adequacy of internal controls, this service identifies weaknesses (e.g., lack of segregation of duties, incomplete cash-handling procedures) and implements fixes. Value: it reduces the risk of audit findings or fraud by ensuring the school can demonstrate sound controls over finances, solving the pain point of potential compliance violations due to unchecked processes.

Audit Readiness & Documentation Prep – Organize all necessary financial records and supporting documentation in advance of a financial audit or program review. This includes preparing clean audit schedules, reconciliations, and workpapers (trial balances, bank reconciliations, student ledgers, etc.) for the auditors. Value: by providing “audit-ready” books and documentation, the school speeds up the audit and minimizes findings. This service addresses the pain point of last-minute scrambling – ensuring that come audit time, there are no missing documents or disorganized files to derail accreditation timelines.

Pre-Accreditation Financial Review – Conduct a mock financial audit or review using accreditation standards as a guide, to gauge the institution’s financial health before the real auditors or accreditors arrive. The accountant reviews key metrics (profitability, cash reserves, composite score projections, etc.) against accreditor requirements and Title IV benchmarks. Value: any red flags – for example, a composite score trending low or insufficient liquidity – are identified early so the owner can take corrective action. This proactive checkup alleviates the fear of unknown financial weaknesses, giving school owners confidence that they will meet NACCAS/ACCSC financial criteria during an accreditation visit.