We can prepare the preparation of your financial statements for your business or personal. We do compilations, reviews, audits, General ledger and financial statement preparation., and Personal financial statement
We can help those who needs a balance sheet prepared to do whatever you need for your business. A balance sheet is a snapshot of a business’ financial condition at a specific moment in time, usually at the close of an accounting period. A balance sheet comprises assets, liabilities, and owners’ or stockholders’ equity. Assets and liabilities are divided into short- and long-term obligations including cash accounts such as checking, money market, or government securities. At any given time, assets must equal liabilities plus owners’ equity. An asset is anything the business owns that has monetary value. Liabilities are the claims of creditors against the assets of the business.
We can help businesses prepare Income Statement. An income statement, otherwise known as a profit and loss statement, is a summary of a company profit or loss during any one given period of time, such as a month, three months, or one year. The income statement records all revenues for a business during this given period, as well as the operating expenses for the business. You use an income statement to track revenues and expenses so that you can determine the operating performance of your business over a period of time. Small business owners use these statements to find out what areas of their business are over budget or under budget. Specific items that are causing unexpected expenditures can be pinpointed, such as phone, fax, mail, or supply expenses. Income statements can also track dramatic increases in product returns or cost of goods sold as a percentage of sales. They also can be used to determine income tax liability.
Statement of Cash Flows
We can help those who needs the Statement of cash flow. Also known as flow of cash statement. The cash flow statement's purpose is to provide information on a firm's liquidity and solvency. It also provide information on the firm's ability to change cash flows in the future circumstances.
We can help small businesses reconcile and adjust bank balances reported by a bank to reflect what's reported in book.