Financial statement preparation can be simple or complex depending on the size of the company, and provides the business owner information about the financial position, and performance of the business, as well as changes in performance to make economic decisions for the business.
Documents typically used:
- A balance sheet – reports on a business’s assets, liabilities, and the owners equity.
- An income statement – also known as a profit and loss report, monitors income, expenses, and profits over time. This statement provides information about the operation of the business.
- A statement of changes in equity – also known as a statement of retained earnings, reports changes in equity of the business during a stated period.
- A cash flow statement – monitors a business’s cash flow, specifically its operating cost, along with its investing and financing activities.
Our firm can prepare and monitor this information for you, so that you may continue to focus and operate your business at peak performance.