Financial statements offer key insight into the financial health of your business and are often necessary to growing your business, getting approval for credit, and preparing for taxes. At C.E. Thorn, CPA, PLLC., we understand that financial statements can be complex and time-consuming. We provide financial statement preparation for our accounting clients in Apex, so they can focus on their business.
Financial Statement Preparation
We use your financial records and information to prepare your financial statements that show your business' health on a monthly basis so you can see where you are now and plan for the future.
An income statement is also called a profit and loss statement and it's a comprehensive detailing of your income and your expenses in order to determine your profit or loss over a specific time period. The income statement can be used to help determine your taxable income as well as provide insight into areas of your business.
The balance sheet provides a financial snapshot of your business assets, liabilities, and equity. The liabilities are subtracted from your assets to determine your business's net worth or equity.
Why You Need Proper Financial Statements
Having accurate financial statements can help you make informed, knowledgeable decisions about your business. Financial statements provide an insight into the financial health of your company. The financial statements we prepare can be used as a tool to help you make decisions with the following:
- Whether your business is financially prepared to expand;
- If it's time to hire additional staff;
- How you can reduce liabilities or increase revenue.
In addition to using these for your personal analysis, if you plan on expanding, opening a line of credit, or working with investors, they'll need to see these statements to help determine the financial health of your business.
Our CPA firm is here to provide ongoing bookkeeping and financial statement preparation services so you can focus on your business and still have the statements you need to better understand your financial health.
Contact Us for Financial Statement Preparation in Apex
Call 919-420-0092 today or complete our contact form to learn more about our accounting services.