Financial Reports for Informed Business Decisions

As trusted accountants and business advisors, Novak | Costello offers an extensive range of accounting and assurance services. Independent, professional opinions provide our clients with reliable financial reports that enable informed business decisions.

Our success at delivering meaningful accounting and financial information is based on decades of experience gained while working with hundreds of firms in Chicago, as well as across Illinois and the U.S. We immerse ourselves in our clients’ business operations to determine their financial opportunities and challenges.

Our primary focus is on closely held businesses, early stage companies, and non-profit organizations across a range of industries. We make every effort to listen better, look closer, dig deeper and ultimately find the solutions that might not initially appear. We are sincerely driven to ensure that our clients attain the business goals they have set for themselves.

Accounting

Up-to-date and accurate financial information is the foundation of well-informed business decisions. Novak | Costello provides accounting services that are timely and relevant to your business. In accordance with the governing standards established by the American Institute of Certified Public Accountants (AICPA), we help our clients utilize information to strategically guide them in the right financial direction.

Accounting services include:

  • General ledger maintenance
  • Annual or interim period bookkeeping
  • Accounting for credit card activity
  • Cash, receivables, payables, credit card and loan account reconciliations
  • Depreciation record maintenance
  • Financial statement preparation
  • Payroll processing and reporting
  • Regulatory reporting assistance

Assurance

Novak | Costello views our accounting and assurance services as more than an obligatory reporting function. By testing the validity of historical data, reviewing accounting controls and examining business practices, we are able to provide our clients with valuable recommendations for improving processes, increasing profitability, and accomplishing business objectives.

Our assurance and related services include:

  • Certified audits
  • Review of financial statements
  • Compilation of financial statements
  • Agreed upon procedures engagements

Depending on whether a client needs to satisfy the information requirements of a lender, investor, or other stakeholder, we offer assistance in identifying the level of service that is optimal for each situation.

Through our extensive experience developed over the years and our alliances with industry experts, Novak | Costello is distinctly positioned to assist you in navigating the ever changing landscape of U.S. and international accounting standards.

Generally Accepted Accounting Principles (U.S. GAAP) are no longer the only financial reporting option. We are proficient in and can provide assurance services on financial statements presented in the following reporting frameworks:

U.S. GAAP – U.S. Generally Accepted Accounting Principles
IFRS – International Financial Reporting Standards
FRF for SMEs – Financial Reporting Framework for Small-and-Medium-Sized Entities

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