Wake Forest Financial Statements Support

For over 26 years, C.E. Thorn, CPA, PLLC., has provided support and preparation of financial statements to businesses throughout the Triangle. Our accounting professionals are available to guide you and your business through the reporting process.

A successful business must maintain accurate record keeping for several reasons:

  • banks require financial reporting of past performance to issue small business loans
  • tax returns need substantiated numbers
  • operating decisions should be based on financial reports

Monthly Financial Reporting

Tracking monthly finances is a great indicator on the performance of any company. A comparison can be made on a month to month basis, as well as year to year. By comparing current reports to previous records, an owner can monitor the success or failure of the business and determine what action is necessary for continued growth.

Here are some important ratios to monitor:

  • financial statements wake forestcurrent ratio – accounts for the ability of a business to pay off its debt in the short term
  • debt to equity ratio – lenders use this ratio to determine if a company can be trusted for investment. If debt outweighs the business equity, lenders view a business as unlikely to pay back the investment
  • receivables outstanding – products or services provided prior to payment result in a business having outstanding receivables. Receipt of payment for these services renders the debt paid
  • profit margin – the total revenue remaining after debts have been paid results in the business profit. The larger the profit compared to debts owed results in an increased profit margin

Our Wake Forest accountants can provide you with the tools and resources to ensure your business’s financial success. The professionals at C.E. Thorn, CPA, PLLC., help guide your business to success by providing financial education assistance and showing you how to keep accurate financial records.

Increase Your Business’s Profitability

Understanding business finance can be tricky and having a trusted resource to help you better understand reporting and analysis is essential to your success. Having the right understanding of accounting practices will help you become prepared to make accurate financial decisions.

Good decision making leads to increased profit for your business.

If you are having difficulty or simply need assistance with record keeping, contact our experienced CPA professionals today.

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