The office of C.E. Thorn, CPA, PLLC., has offered extensive financial services for hundreds of individuals and small businesses throughout the triangle. We offer supervision and financial support for the preparation of financial statements to help you and your business become more profitable.
Accurate recordkeeping is essential to your economic prosperity, and will be necessary for:
- Evaluation by lenders when requesting any small business loans
- Tax return validation
- Making strategic business decisions
Monthly Financial Reports
Utilizing monthly reports will give a company insight on the financial health of the business. Comparing financial numbers each month, and comparing year to year, a business can accurately determine its success and find potential problems.
Here are a few ratios important for any business:
- Current Ratio - helps determine the liquidity of a company's assets in order to pay debts in the short term. A high ratio means the company can easily liquidate assets to pay the debt
- Debt to Equity Ratio - the comparison of a company's finances; percentage of financing from investors vs creditors. A lower ratio of represents a more stable business
- Receivables Outstanding - goods or services sold with payment still pending are outstanding. Once payment is collected for the service, the outstanding debt is nullified and recorded as income
- Profit Margin - the net sales income remaining after all expenses have been paid. The higher the income compared to the debt indicates a positive performance with a larger profit margin
Knowing how to manage your finances and making sound business decisions will lead to increased profits and revenue. However, any individual or small business owner can be overwhelmed when attempting to balance their finances.
Take advantage of working with a qualified professional who can show you how to eliminate mistakes and effectively manage your assets.
Help Your Business Stay on the Right Financial Track
Our Certified Public Accounting Professionals are available to assist you in understanding how to organize your finances to make profitable business decisions. Providing training and long-term financial services, our Morrisville accounting firm is your resource to a solid financial future.
Get in touch with experienced financial professionals in Morrisville Today
Call 919-420-0092 or Contact us today using the form below to see you can benefit from working with C.E. Thorn, CPA, PLLC.