C. E. Thorn, CPA, PLLC can prepare financial statements for you and your small business.
More importantly, we can help you use these financial statements, as well as other reports to better manage your business and increase your profitability.
Good financial records are necessary for several reasons:
For year-to-date comparisons and quick management decisions, financial reports must be done monthly. You can compare the sales, gross profit, and net profit at, say, the end of May, with prior years to get a good idea of how the current year will finish. You can compare the total accounts receivable or payables with prior years to spot problems and take corrective action.
Here are some common business ratios you should monitor on a month-to-month and a year-to-year basis:
Understanding financial statements can increase business profits. If you would like to learn more about using financial statements to make sound business decisions, we will be happy to assist you. No one was born understanding financial information, but it is easier to learn than you might think.
Please ask as many questions as you like; we will help you until you are comfortable with business numbers and can use yours to increase your profitability.
The success of your business is important. So, why should you spend more time worrying over financial matters than focusing on developing your business? By selecting a Raleigh small business accountant to handle your financial matters, you can reduce the time you spend on the business’s finances.