Financial Statements Help Your Business

 

 

What are Financial Statements?

 

We all remember Cuba Gooding Jr.’s immortal line from the movie Jerry Maguire, “Show me the money!” Well, that’s what a company’s financial statements do. At their most basic, they show you where a company’s money came from, where it went, and where it is now.

 

There are four main financial statements.

1. Balance Sheets - showing what a company owns and what it owes at a fixed point in time
2. Income Statements - showing what money a company made and spent over a period of time
3. Cash Flow Statements - showing the money coming and going to or from the outside world
4. Statements of Shareholders’ Equity - showing changes in the interests of the company’s shareholders over time.

 

So, How Can Financial Statements Help my Business?

 

Whilst above we discuss each financial statement separately, it’s important to keep in mind that they are all related. The changes in assets and liabilities presented on the balance sheet are also reflected in the revenues and expenses presented on the income statement, which demonstrate the company’s gains or losses. Cash Flow Statements provide more information about cash assets listed on a balance sheet and are related, but not equivalent, to net income shown on the income statement. And so, these statements can multiply! No single financial statement tells the complete story, but combined they provide very powerful information for business owners and potential investors. And accurate financial information is the Business Owners best tool when it comes to investing their time in the business wisely – what needs improvement to increase profitability, viability or ensure the survival of your small to medium sized business? Financial Statements are a key element in managing your business…

 

The Financial Statements Preparation Service from Green Quarter Consulting:

 

Our professional and experienced accounting team will take the information entered during basic bookkeeping services and produce all financial statements (balance sheet, income statement, cash-flow statement, Statements of Shareholders’ Equity…) in compliance with the highest standards of quality for both profit and non-profit oriented businesses. You’ll have all your financial documentation prepared accurately and on time, perfect for keeping track of success, audit requirements, identifying areas for improvement, or for approaching banks, suppliers and investors for additional funding or improved credit terms to help your business grow.

 

We see our role in the financial reporting process as an opportunity to provide you with constructive solutions to maximize your profitability and efficiency. Subscribe to the Green Quarter Consulting Financial Statements Preparation Service for White Rock, Surrey, Langley, Abbotsford, Vancouver, New Westminster, Coquitlam, Burnaby and South Surrey BC, and we’ll always send you timely, accurate and essential, up to the minute financial statements whenever you need them.

 

 

 

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