Access your financial information easily at any time and from anywhere with our full-service accounting and monthly financial statement preparation services. We ensure that your financial data is organized and readily available, providing you with the convenience and flexibility to make informed decisions about your business.
Financial statements are essential when seeking funding from any source. These statements provide crucial evidence of your company’s financial health and stability. Whether you’re approaching investors, applying for loans, or seeking other forms of funding, having accurate and up-to-date financial statements is paramount. We can assist you in preparing comprehensive financial statements that showcase the strength and viability of your business, increasing your chances of securing the funding you need.
Financial Statement Review & Compilation
At Accountit, we provide financial statement review and compilation services specifically tailored to help you prepare and present accurate and reliable financial statements. These statements play a crucial role in offering a credible and reliable snapshot of your business’s financial health, which is essential for investors, creditors, and other stakeholders evaluating your company. Our expertise ensures that your financial statements meet the required standards and provide the necessary level of credibility and reliability to instill confidence in those assessing your business.
The balance sheet provides a snapshot of your business’s financials, including assets, liabilities, and net worth. Analyzing it helps monitor revenue collection, inventory management, and meeting obligations to creditors and stockholders. The balance sheet will include references to:
Represent the use of business funds
Acquired by funds provided by the creditor/investor
The income statement, or profit and loss statement, summarizes all income and expenses for a specific period. It provides a clear view of the business’s income potential after accounting for all expenses. This statement considers revenue, expenses, and any capital gains or losses incurred during the period.
An equity statement is a fundamental financial statement that provides detailed information about the financial aspects of a business. It includes the following key components
This statement also highlights how retained profits or surplus has been utilized or allocated during each financial or accounting period. It provides insights into whether the profits were reinvested back into the business, distributed to shareholders as dividends, or used for other purposes, thereby demonstrating the company’s financial decisions and strategies.
Cash Flow Statement
The cash flow statement provides a comprehensive overview of the cash generated and utilized by a business within a specific period. It plays a vital role in understanding the inflow and outflow of cash within the company. This statement is crucial for business owners and potential investors as it discloses cash flow activities related to operations, investments, and financing. Additionally, the cash flow statement includes factors such as depreciation, gains or losses on assets, and changes in current assets and liabilities, further enhancing its relevance in assessing the financial health and liquidity of the business.