Financial Statement Preparation & Reporting
Financial statements are written records that convey the business activities and the financial performance of an Organisation.
Financial statements are the face of an organisation. You can leverage our experience in preparing the most accurate financial statements which will be of great use for you to analyse and improve profitability by minimizing cost and maximizing revenue. Our team of qualified professional accountants make sure that these statements are accurate and crystal clear with zero tolerance.
Which financial reports and statements you can outsource with us?
Trial statements are first consolidation of ledger account balances on particular instances. We will prepare it at the end of accounting period before start preparing final accounts. Trial balance is prepared to ensure arithmetic accuracy of accounting and to verify if anything is missed out.
Balance sheet though has just 2 heads, Assets and Liabilities displays list of vital particular of an entity. It displays owners capital, equity and Preference shares, debenture, short and long term debts, Fixed, current, tangible and intangible assets, cash and bank balance, creditors and debtors, Current payable loans, retained earnings etc. B/s is one of the key elements of financial statements.
Income statements, also known as Profit & Loss statement or income and expense statement is a summary of incomes or profits earned and expenses or losses incurred by an organisation during a specified period of time. This specified time period usually is a year or a quarter. This record shows revenue made by your business after deducting expenses from incomes. Apart from monetary transactions, it also considers nonmonetary items like Foreign exchange gain or loss, deferred revenue or expenses.
“Cashflow is King and Profit Creates Wealth”
Profit means revenue reduced by spending. That means an organisation should have cash or bank balance equal to profit. But often this doesn’t happen. Say If an organisation’s financial statements shows profits of $ 1,000,000.00, but in reality its cash and bank balance may not be $ 1,000,000.00. In such situation, business incurs profit yet faces difficulty when it comes to pay the dues.
Often it happens that bank balance as per books of account is different than the same as per bank at a specific date. Here comes bank reconciliation statement in picture. This statement attempts to locate the transactions causing Imbalance. This difference can arise as a result of miss out on either side and must be rectified at the earliest. This statement can be prepared weekly, biweekly, monthly, quarterly or yearly depending on the volume of bank transactions. Our team can carry out this analysis for you as per predefined schedule and can provide you the report highlighting the miss outs.
Legal requirements vary from territory to territory. Our team can prepare or can assist you in preparing all type of statements as required.
Request A Quote
To enjoy the benefits of our services, just dial our digits or email us, we will get back to you within 24 hours.
