The short answer
How much does it cost to prepare financial statements?
At LQ Services, a set of financial statements costs from 100 USD under US GAAP and from 300 USD under IFRS. The price is a fixed fee agreed before any work starts, so it does not grow with the hours spent. Where your set lands above the starting price depends on the entity type, whether the statements are consolidated and how many notes and disclosures they need.
US GAAP financial statements
From 100 USD per set
IFRS financial statements
From 300 USD per set
Pricing model
Fixed fee, agreed before work starts
What moves the fee
Framework, entity type, consolidation, number of disclosures
Other standards
Lux GAAP, UK GAAP and other local GAAPs, quoted per set
Turnaround
First draft usually within two working days
Entity types
Commercial companies, SPVs, holding companies, investment funds
Based in
United States, serving clients in all markets
Track record
34 clients supported over 12+ years
Why quotes for the same set can differ so much
Ask three providers to prepare the same set of financial statements and you can get three very different prices. The difference rarely comes from the accounting. It comes from how each provider charges, and how much of their own overhead ends up in your fee.
Hourly billing leaves the risk of a slow process with you: every extra review round or late query adds to the bill. A fixed fee moves that risk to the preparer. That is how we work, with prices from 100 USD for a set under US GAAP and from 300 USD under IFRS.
About LQ Services
LQ Services is a US-based provider of outsourced financial statement preparation. Our team of Chartered Accountants prepares annual and periodic financial statements, prospectuses and KIIDs for commercial companies, SPVs, holding companies and investment funds in all markets, under IFRS, US GAAP, Lux GAAP, UK GAAP and other local GAAPs. We have supported 34 clients over 12+ years. Pricing is a fixed fee agreed up front, from 100 USD per set under US GAAP and 300 USD under IFRS, and a first draft usually comes back within two working days.
Seven things that decide the fee
Use these to compare quotes like for like. Each one moves the price, whoever prepares your statements.
The reporting framework
The framework sets how many notes and disclosures the statements need. It is the main reason our prices start at 100 USD for a set under US GAAP and at 300 USD under IFRS.
The entity and what it does
A holding company with a handful of balances is a quick set. A trading company or an investment fund with financial instruments, fair value measurements and related-party transactions needs more disclosures and more review.
Standalone or consolidated
Statements for one entity cost less than consolidated statements, which bring several entities together, eliminate intercompany balances and add group disclosures.
First set or a roll-forward
The first set with a new preparer carries the setup: mapping your trial balance, building the notes and bringing in comparatives. Later periods roll forward from the same file, which keeps recurring work quick.
The state of your records
A reconciled trial balance and last year’s signed statements keep the work, and the fee, at the low end. Unreconciled balances, missing schedules and late adjustments add work whoever prepares the set.
How close the deadline is
Many providers charge extra for rush work. At LQ Services a first draft usually comes back within two working days, so a normal filing timetable rarely needs a rush.
How the provider bills
An hourly quote is an estimate; a fixed fee is the price. Either way, ask what is included: review rounds, answers to auditor queries and changes after the draft.
If you want a number for your own entity, tell us the entity type, reporting framework and year end. We will send a fixed quote before any work starts.
Frequently asked questions
Straight answers to what finance teams ask most about the cost of financial statement preparation.
How much does it cost to prepare financial statements?
At LQ Services, a set of financial statements costs from 100 USD under US GAAP and from 300 USD under IFRS, as a fixed fee agreed before work starts. The final price depends on the entity type, whether the statements are consolidated and how many disclosures they need.
Why does IFRS cost more than US GAAP?
In our work, IFRS sets usually need more notes and disclosures, so they take longer to prepare and review. That is why our IFRS prices start at 300 USD and our US GAAP prices at 100 USD.
What affects the price of financial statement preparation?
The reporting framework, the entity type and what it does, whether the statements are consolidated, whether it is your first set with the preparer, the state of your records and how close the deadline is. How the provider bills, hourly or fixed, decides whether you know the price up front.
Is a fixed fee better than hourly billing?
For most companies, yes. A fixed fee tells you the price before work starts, so it does not rise if the work takes longer. With hourly billing you only know the total at the end, and delays or extra review rounds add to it.
Can our auditor prepare the statements instead?
Often not. Independence rules restrict auditors from preparing financial statements they also audit: it is prohibited for public-interest entities and SEC registrants, and allowed for other entities only with safeguards. Read our guide to choosing a preparer.
How long does it take?
At LQ Services, a first draft usually comes back within two working days. We agree the delivery dates at the start of the engagement and work to your filing deadlines.
Do you prepare statements under other standards?
Yes. We also prepare statements under Lux GAAP, UK GAAP and other local GAAPs, as well as prospectuses and KIIDs. Each is quoted as a fixed fee before work starts.
What do you need from us to give a quote?
Your entity type, reporting framework and year end. If you have last year’s financial statements, send them too: they let us quote more precisely.
