{"ok":true,"canonical_url":"https://dealroom.so/glossary/professional-compilation","api_url":"https://dealroom.so/api/public/glossary/professional-compilation","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"professional-compilation","term":"Professional Compilation","group":"Reading the business","definition":"A basic financial statement service where an accountant presents financial information without offering assurance on its accuracy or completeness. It's less rigorous than a review or audit.","what_it_means":"For small business acquisitions, you'll often see compiled financial statements. While useful for understanding the business's reported financials, remember the accountant hasn't verified the underlying data. Always supplement compilations with your own due diligence, reviewing source documents and bank statements to confirm figures.","url":"https://dealroom.so/glossary/professional-compilation","official_sources":[],"related":[{"slug":"profit-and-loss-statement","term":"Profit and Loss Statement","url":"https://dealroom.so/glossary/profit-and-loss-statement"},{"slug":"balance-sheet","term":"Balance Sheet","url":"https://dealroom.so/glossary/balance-sheet"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"audit","term":"Audit","url":"https://dealroom.so/glossary/audit"}],"related_questions":[{"question":"What is the importance of a professional business valuation for an acquisition?","url":"https://dealroom.so/sba-7a/questions/what-is-the-importance-of-a-professional-business-valuation-for-an-acquisition"},{"question":"Can professional fees I've already paid (e.g., legal, valuation) count towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-professional-fees-i-ve-already-paid-e-g-legal-valuation-count-towards-my-equity-inject"},{"question":"Can an SBA 7(a) loan cover closing costs and professional fees for a business acquisition?","url":"https://dealroom.so/sba-loans/basics/can-an-sba-7-a-loan-cover-closing-costs-and-professional-fees-for-a-business-acquisition"},{"question":"Can a professional license or intellectual property I developed be valued and count towards the 10% equity?","url":"https://dealroom.so/sba-7a/questions/can-a-professional-license-or-intellectual-property-i-developed-be-valued-and-count-toward"},{"question":"What is the importance of a professional business valuation for an acquisition with an SBA 7(a) loan?","url":"https://dealroom.so/sba-7a/questions/what-is-the-importance-of-a-professional-business-valuation-for-an-acquisition-with-an-sba"},{"question":"Can professional fees incurred during the due diligence phase, like attorney or accountant fees, count towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-professional-fees-incurred-during-the-due-diligence-phase-like-attorney-or-accountant-"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Professional Compilation","url":"https://dealroom.so/glossary/professional-compilation","source_type":"DealRoom Data"}}