A clear view of your net worth
Personal financial statements prepared by a Certified Public Accountant for individuals and families with complex holdings.
- Direct CPA preparationA CPA performs the professional work from initial scoping through final delivery.
- Fee agreed in advanceYour engagement letter defines the work and fee. If the requested work changes, any added scope and fee are agreed before Aurora proceeds.
- Defined need or ongoing reportingA statement for financing, a sale, estate or trust work, or another specific purpose—or quarterly reporting that keeps the financial picture current.
- Confidentiality and discretionAurora treats inquiries, client identities, and financial information with confidentiality and discretion. After an engagement begins, records are exchanged through a secure client portal rather than by email.
Aurora is based in Bozeman, Montana, and is available to clients in Montana and beyond.
Personal Financial Statements for Complex Holdings
Financial information is often scattered across account statements, tax records, entity records, appraisals, and loan documents—each prepared for a different purpose. Aurora brings the relevant information together under accounting guidance specific to personal financial statements. The resulting statement presents assets at estimated current values, liabilities at estimated current amounts, estimated income taxes, and net worth as of one date, with notes explaining significant amounts and valuation approaches. It becomes a shared financial reference point for you and the professionals you authorize.
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Complex holdings
Real estate, closely held businesses, trusts, private investments, concentrated positions, loans, and guarantees.
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A significant date
Financing, estate or trust work, divorce or prenuptial planning, a sale, inheritance, retirement, or another important transition.
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Ongoing reporting
A regularly refreshed view of significant changes and concentrations, including asset values and other information that may need updating before the next reporting date.
From scattered information to one clear financial picture
Aurora brings together information held by you and your existing advisors to prepare a Statement of Financial Condition with related notes. The result is a clear, supportable reference for forms, advisor conversations, and ongoing reporting.
Information already exists
Establishes ownership and what is includible
- Ownership records
- Entity records
- Trust and estate documents
- Account statements
Establishes estimated current value
- Real estate appraisals
- Business valuation reports
- Investment manager reports
Establishes amounts owed
- Loan documents and guarantees
- Banking records
Establishes tax basis
- Tax records and tax-basis information
Organized and prepared by Aurora
Statement of Financial Condition
A Statement of Financial Condition presents assets, liabilities, estimated income taxes, and net worth as of a specific date.
Assets minus liabilities minus estimated income taxes equals net worth.
Select a line to see what it contains and which records prepare it
- Net worth What remains The resulting financial position as of the statement date. It is what remains after estimated income taxes have been deducted, not before them, which is why it is usually lower than a net-worth figure taken from assets and debts alone.
- Related notes Prepared with the statement, not separate from it Related notes explain significant amounts, describe relevant valuation methods, and address guarantees, commitments, and contingencies where applicable. For a material investment in a closely held business, they also give its name, the percentage owned, the nature of the business, and summarized financial information for the most recent year.
Ready to support
- Third-party forms Statement information organized into the requesting party’s format, where the engagement letter includes it
- Advisor conversations One shared reference for planning discussions
- An ongoing financial reference A baseline for the next request or reporting date
OptionalQuarterly reporting
A separate service, elected and defined in the engagement letter. Where it is elected, updated client and advisor information refreshes the statement each quarter. A one-time request does not require quarterly reporting.
Statement of Changes in Net WorthThis statement reconciles beginning and ending net worth and separates realized activity from changes in asset values, liabilities, and related estimated taxes. It is optional in a one-time engagement and included with each scheduled quarterly package after the baseline statement has been established.
Scope and limitations
Illustrative diagram. No client data appears here, and the statement is prepared only after Aurora and the client have agreed on scope and records. Which records inform which line depends on the engagement and the holdings.
Format assistance applies where the engagement letter expressly includes it, and the client or counsel remains responsible for representations, signatures, and submission. Each requesting party applies its own format, current-date requirements, and supporting-information standards. Depending on the asset, filing, and purpose, separate qualified appraisals or other valuation support may be required, and a prepared statement does not replace a required lender form or court disclosure.
Ways to Work Together
A Statement as of a Date
A Statement of Financial Condition and related notes, prepared for a defined date and intended use: an outside request, a transition, or a current reference point for you and your advisors.
Quarterly Reporting
A Statement of Financial Condition and related notes establish the reporting baseline. Each later scheduled quarter includes a refreshed statement, updated related notes, a Statement of Changes in Net Worth for the defined period, and a concise memo interpreting the significant drivers.
Not sure which approach may fit? Use the services guide.
Why Aurora Exists
Personal financial statements are a specialized area of accounting that can fall outside the routine tax compliance and business accounting services offered by many CPA firms. Aurora was founded to provide this reporting as a dedicated service for individuals and families.
Designed to Work With Your Existing Advisors
Your attorney, tax professional, banker, and wealth advisor may each hold part of the financial picture. With your authorization, Aurora may obtain and organize relevant information from these professionals to prepare one consistent financial presentation—without replacing the advice or services they provide.
For advisors and referring professionals
Aurora’s work is a defined deliverable, scoped in an engagement letter before preparation begins.
With client authorization, Aurora can coordinate with the existing advisory team to gather relevant information and prepare the agreed Statement of Financial Condition and related notes.
The work is handled with discretion, and Aurora does not compete for an advisor’s tax, legal, investment, banking, or other professional services.
Frequently asked questions
These answers describe Aurora’s preparation work and how a conversation can begin.
For individuals and families
9 questions
A personal financial statement presents a dated picture of assets, liabilities, estimated income taxes, and net worth, with related notes about significant amounts and valuation approaches. A tax return reports tax information for a prior period, while investment reporting typically focuses on accounts under one advisor’s care. Aurora brings information from across the financial picture into one accounting presentation.
Common occasions include financing, estate and trust work, divorce or prenuptial planning, a sale, inheritance, retirement, another transition, or a desire for current quarterly visibility. The date and intended use are defined before work begins.
Preparation means Aurora organizes and presents the information provided for the agreed statement and related notes under the applicable accounting framework. Prepared statements do not include an audit, review, or compilation report, and no assurance is provided on them. A compilation is a separate engagement with a report. Aurora does not provide audit or review services.
The information depends on the agreed scope and may include account statements, entity records, tax-basis information, appraisals, loan information, and existing advisor reports. After an engagement begins, Aurora sends an invitation to a secure client portal, provided by Liscio, where records are uploaded, messages are exchanged, and documents are signed. Liscio states that it is SOC 2 certified and that its platform is built to support Federal Trade Commission Safeguards Rule obligations and IRS Publication 4557. Ordinary email and the inquiry form are not document-intake channels; how the portal works is described on the contact page.
They are presented as estimated current values, with notes describing the valuation approaches and information used. Aurora does not independently verify those values. Depending on the asset, filing, and requesting party, separate qualified appraisals or other valuation support may be required. Any qualified appraisal comes from a qualified appraiser and is separate from Aurora’s work.
It is not a tax currently due. It presents the estimated tax effect of the differences between the values and amounts shown in the statement and their tax bases. It is a financial-statement measurement, not tax advice or a tax-return calculation.
The fee and defined deliverable are set in an engagement letter before work begins. If the scope changes, the change and any related fee are agreed before Aurora proceeds.
Timing depends on the statement date, the number and complexity of holdings, the information available, and the agreed scope. The expected timing can be discussed once Aurora understands the request and the records involved.
Aurora treats inquiries, client identities, and financial information with discretion. The engagement letter defines the relationship and scope, and Aurora provides access to the secure client portal after the engagement begins. See the privacy notice for information about the website inquiry form.
For attorneys, bankers, and wealth advisors who refer clients
4 questions
No. Aurora works alongside the client’s existing professionals and does not provide tax, legal, or investment advice.
Yes, with the client’s authorization. Aurora can coordinate with existing advisors to obtain relevant information and prepare the agreed financial presentation.
Aurora’s deliverable is the prepared Statement of Financial Condition and related notes. Where the engagement letter expressly includes it, Aurora also organizes information from the completed statement into the format the requesting party requires, such as a bank’s personal financial statement template, SBA Form 413, or a court-requested financial disclosure.
Each requesting party sets its own format, current-date, and supporting-information standards, and the client or counsel remains responsible for representations, signatures, and submission. A prepared statement does not itself replace a required lender form or court disclosure, though a maintained statement makes each new request more straightforward.
After the baseline, each scheduled quarter can include a refreshed Statement of Financial Condition, updated related notes, a Statement of Changes in Net Worth for the defined period, and a concise memo interpreting significant drivers. The cadence and scope are set in the engagement letter.
Professional affiliations
Michelle Wilz, CPA, is a member of the American Institute of Certified Public Accountants and serves as president of the Bozeman chapter of the Montana Society of Certified Public Accountants.
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America Counts on CPAs®
Michelle Wilz, CPA — licensed in Montana -
Michelle Wilz, CPA — President, Bozeman Chapter
Montana Society of Certified Public Accountants