Carrboro Financial Statements & Business Services
The professionals at C.E. Thorn, CPA, PLLC. provide guidance and financial statement preparation to Carrboro businesses. Let us teach you how to better manage your financial statements, increase your profitability, and create more time for growing your business.
Monthly Statement Preparation
Monthly statements help measure your business’s growth and potential earnings. Comparing data month over month and year over year allows you to evaluate the health of your business estimate what your potential year-end profit will be.
Some of the data included in monthly statements:
- Current ratio – This is a snapshot of your company’s ability to pay back debt.
- Debt to equity ratio – This helps determine the value of your business and your ability to pay off personal debts. It reflects a business’s risk level to potential investors and is used to determine the potential of default for personal loans.
- Receivables outstanding – When services are provided upfront (prior to payment), the debt is known as an outstanding receivable. Once payment has been received, it is no longer outstanding. Purchasing goods or services on credit is one of the most common examples of an outstanding receivable.
- Profit margin – This is the amount that revenue from sales exceed your expenses. This is calculated by subtracting your total debts and expenses from your net income to find your gross profit. To find the margin, divide the gross profit by the revenue.
Our team of small business accounting professionals are here to help serve Carrboro and the Greater Triangle area with the knowledge and confidence to make sound financial decisions.
Contact C.E. Thorn, CPA, PLLC. For Financial Statement Preparation
With the professionals at C.E. Thorn, CPA, PLLC. on your side, you’ll always know where your business stands financially. With consultations and planning, our team is here is help you make sound financial decisions.
Call (919) 420-0092 today or complete our online contact form to speak with a Carrboro certified public accountant.