Financial Statements for Garner Businesses

At C.E. Thorn, CPA, PLLC., we understand how important it is for you to focus on the success of your business. In order to do that, you need all your attention directed towards your day to day operations, not your finances. That is where are accounting professionals can lend a guiding hand.

Let us prepare or help supervise your monthly financial statements to ensure your business has continued growth. Proper record keeping is essential for success and we can help manage your business finances, helping you to become more profitable.

financial statements garnerHere are a few reasons proper record keeping is essential:

  • Making sound operating decisions
  • Tax returns must have proper documentation
  • Small business loans will require reports of past performance

Preparation of Monthly Financial Reports

Monthly financial reports help determine the health of your business. Analyzing monthly statements are a great indicator of growth and success. You can compare previous months, and years to see if your business is reaching its full potential, find errors or detect problems.

Common business reports that you should be monitoring on a monthly and yearly basis are listed below

  • current ratio – determines the ability of a business to pay its debt. This ratio is used by investors to determine if money lending or investment will yield a return
  • debt to equity ratio – how much a business relies on financing from investors and creditors
  • receivables outstanding – any product sold or business transaction based on credit to the purchaser. The receivable is outstanding until the debt is paid in full
  • profit margin – calculates the total remaining revenue, after all business costs have been paid

Have Garner Accountant Prepare Your Monthly Statements

Making sound business decision requires accurate reporting and sound financial management. Our certified public accounting firm has served Garner and the Triangle for over 26 years, with more than 200 businesses trusting our guidance with their financial success.

Let us help you become more comfortable with your financial reports by contacting our Garner CPA’s today!

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