For many years our small business CPA has provided monthly financial statement preparation for businesses in Cary. This is important, since monthly financial statements will be used for preparing year end tax returns and will help you make informed financial business decisions.
Proper record-keeping can put your business in a better position for success and help with future planning. We use your financial information to put together various types of statements that reflect the financial health of your business.
The income statement, also known as the Profit and Loss statement, shows a business’ income and expenses. It helps to determine whether a business was profitable or not during a set period, and helps identify how well the company performing.
The balance sheet, also known as the statement of financial position, is a summary of a business’ financials that outlines the net worth of a company. To identify your company’s net worth assets must be totaled and then liabilities are subtracted from that amount.
Financial statements are crucial when you want to evaluate the health of your business. When you are equipped with accurate financial statements, you’ll be in an optimal place to understand various factors like:
Feel confident making knowledgeable financial decisions with monthly financial statement preparation and bookkeeping. Reach out to us today by calling (919) 420-0092 or completing our contact form below!
*Information presented on this website should not be construed as formal accounting or tax advice or the formation of an Accountant/CPA-client relationship. Additionally, any email sent to C.E. Thorn, CPA, PLLC at the email addresses set forth in this website will not create an Accountant/CPA-client relationship.