Chapel Hill Financial Statements

Trust an experienced Certified Public Accounting professional to help you maximize your revenue while reducing your financial risk. At C.E. Thorn, CPA, PLLC., we have provided services to individuals and more than 200 small businesses for the past 20 years.

We are knowledgeable and know how to help you prepare your financial statements. Our Raleigh accounting firm offers financial management and training opportunities so you can minimize your debts and become more profitable.

Keeping good financial records will help you:

  • chapel hill financial statementsMake better decisions for your daily operations and personal financial decisions
  • Increase your chances of successfully receiving small business loans
  • Keep accurate tax return records. Tax return numbers need to be substantiated

Preparing Monthly Statements

Monthly statements can help determine the financial health of your business or personal finances. Keeping accurate monthly records will allow you to check the growth of your business so you can ensure your financial success.

  • Current ratio – provides an accurate representation of how an individual or business is performing at that moment. A high current ratio value is a positive sign that a business can effectively pay back its debt
  • Debt to equity ratio – a comparison of debt or liabilities versus assets. The formula to determine this ratio calculates liabilities divided by assets minus those liabilities. A low debt to equity ratio can show a lower risk of loan default or investment by stakeholders.
  • Receivables outstanding – means that a product was sold or services rendered without payment at that time. Until an account is paid in full, it is considered outstanding debt. Once the debt is settled the account no longer outstanding
  • Profit margin – A calculation that can help show growth of a business, and provides a snapshot of how a company compares with competitors. Calculate your profit margin by subtracting your debts from your assets and divide by total revenue. The larger the percentage, the greater the overall profit of the business.

When you prepare and keep accurate financial statements, you are setting up yourself up for success. In order to help you and your business achieve its highest level of success, our firm is available to answer all of the financial questions you may have.

Help Grow Your Business with Professional Accounting Services

At C.E. Thorn, CPA, PLLC., we understand how difficult it can be to navigate the financial world, and that is why we are available for you. Allow our CPA’s to work with you so you can become more comfortable making sound financial decisions.

Contact us to so you can benefit from working with our experienced accounting professionals and increase your profitability.

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