Financial Statement Preparation for Wendell Businesses

At C.E. Thorn, CPA, PLLC., we help businesses owners in Wendell understand their finances and plan for the future so you can increase profits and make the best possible choices. One way we do this is by providing financial statements based on your records and using them to help you steer your business in the right direction.

Preparation of Monthly Statements

Monthly statements are a key way to measure your business’s growth and potential earnings. By comparing previous months and years, you can determine the financial health of your business and estimate year-end profits. Monthly statements include:

• Current ratio – This is a snapshot of a company’s ability to pay back its debt. A high current is a positive sign of financial health.
• Debt to Equity ratio – Helps determine the value of your business or ability to pay off personal debts and can reflect risk to potential lenders and investors
• Receivables Outstanding – When services are rendered before they are paid for, the debt is known as an outstanding receivable. Purchasing goods or services on credit is a common example of outstanding receivables
• Profit margin – A way to evaluate your margin of income versus your payout. To calculate subtract your total debts and expenses from your net income and divide by sales.

Our small business accountants can help your Wendell business understand these reports. Our goal is to provide our clients with the knowledge and confidence to make sound financial decisions.

As a valued client, you can rest assured that we will be available to answer the financial questions that you have, and help guide you to a more profitable economic state.

Contact C.E. Thorn, CPA, PLLC., for All Your Financial Service Needs

The professionals at C.E. Thorn, CPA, PLLC., offer ongoing monthly accounting services. Our team will guide you through making proper financial decisions, and be available for consultation for your financial planning.

Call (919) 420-0092 today or complete our online contact form to speak with a Certified Public Accountant.