Financial reporting is the process of preparing financial documents that show a company’s income, assets and ownership equity. Because these documents are used to formally communicate the financial condition of a business to owners, investors and lenders, they must conform to specific legal and ethical standards. The experienced accountants and bookkeepers at BusinessTaxPreparation.com will ensure that all of your financial reports are accurate and conform to the current guidelines governing financial reporting.
Financial reporting services we provide:
- Preparation of Income Statements
These statements, also known as Profit and Loss Statements, show the income and expenses of a company over a set period of time. - Preparation of Cash Flow Statements
These statements show a company’s cash flow over a set period of time. They report the flow of cash in the areas of investing, financing and business operations. - Preparation of Statements of Financial Position
These statements show a company’s assets, liabilities and ownership equity at any given date. - Preparation of Equity Statements
These statements, also known as Statements of Retained Earnings, show a company’s changes in equity over a set time period. They show net profit or loss, changes in share capital, dividend payments and direct changes in equity.
Financial statements must provide relevant and reliable information about a company’s performance and financial position to a range of users both internal and external to the business. They are evaluated by investors to assess the viability of investing, by lenders to decide whether to extend loans or grant fresh working capital and by business owners to make important decisions that affect continued operations. The accounting professionals at BusinessTaxPreparation.com will ensure that you company’s financial statements accurately reflect your company’s financial condition and meet all of the current legal and ethical guidelines for financial reporting.