For accurate and insightful financial statement preparation, rely on Carson Thorn, CPA, PLLC. With over 30 years of small business accounting service and guidance, our accounting firm can provide you with the monthly statements necessary for tax preparation as well as for making smart choices regarding your business.
We use your financial records and information to compile several types of statements that show different aspects of the financial health of your company in the present so you can plan for the future.
Your income statement, also called the Profit & Loss statement, calculates your sales revenue and income, expenses, and general ledger records to determine how much profit or loss your business experienced during a set period. The income statement can highlight areas that are performing well as well as opportunities for improvement.
The balance sheet, also called the statement of financial position, shows the net worth of your company. By totaling your assets, then subtracting your liabilities from that amount, you’ll determine your business’s net worth.
Financial statements provide an in-depth look at the financial health of your company. You can use these reports to determine the following:
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 determine the financial health of your business and if your business is a safe opportunity.
Having accurate financial statements can help you make informed, knowledgeable decisions about your business. For financial statement preparation as well as other small business monthly accounting services, reach out to our CPA firm today at (919) 420-0092 or complete the 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.