Every company needs to keep accurate records of their financial performance for each accounting period. An income statement is basically a financial statement that will measure the financial performance of a company. It will include a summary of all the revenues and expenses incurred throughout its operation. This will reveal the total net profit or net loss incurred by the company during this time period. Usually it is calculated over a fiscal quarter or a fiscal year.
Cash flow statement
This is a special financial statement that outlines all of the revenue and income the company has received from both its regular business operations and outside investment sources. These sources could be stocks, real estate, or any other unexpected revenue that benefits the cash flow of the company.
Statement of Financial Position (Balance Sheet) for small and medium firms
A statement of financial position, or balance sheet, lists all of the assets, capital and liabilities of a company within a particular date in time. This could be a present date or some previous date from another fiscal time period. A balance sheet will determine a company’s total value and worth.
Annual Accounts Preparation
Do you need accurate accounts provided on time?
• Prepare accounts to help in completion of self-assessment tax returns;
• Produce financial statements to file at Companies House and abbreviated accounts to ensure the minimum amount of your financial information is made public.
Accounts are prepared to agreed timescales and deadlines.
But we can do more than just report the history of what’s already happened…
• Identify areas where we can assist in minimizing your tax liability;
• Identify areas of the business that give you the most opportunity to make improvements;
• Use the accounts to help you measure where you are in meeting your goals and what actions you need to take.
We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.