Financial Statements Preparation
We work with our clients to provide meaningful financial statements that can be used in their business. Normally financial statements consist of a Balance Sheet and a Statement of Income. We can also provide a Statement of Cash Flows as well as Footnotes to the financial statement.
We provide financial statements on a variety of frequencies:
- Annual – the most common and least dynamic. Generally needed to assist in the preparation of annual income tax filings. Maintaining year-end financial statements can also assist in being a launching point for the next year’s budget and/or sales forecast.
- Monthly – this can assist in a better understanding of the performance of the business.
- Weekly “Bullets”– these are financial statement “briefs” which just highlight key indicators of the business. These highlights can include:
- Weekly Sales
- Cash position
- Weekly Cash Receipts
- Accounts Receivable Aging
- Accounts Payable Aging
- Daily “Flash”– this is financial information which will assist management in know the immediate pulse of the business. It may be similar information as noted above in the Weekly “Bullets”, and/or may include other “vitals” of the business such as:
- On-hand inventory status
- Hours billed
- Hours worked
- Sales order status
- Purchase order status
Contact us to set up a time that we can discuss your specific needs.