Financial Reporting

Monthly preparation of the following reports will provide you with key business metrics:

 

  • Balance Sheet or Statement of Financial Position – reports on a company’s assets, liabilities, and owners’ equity at a given point in time, usually the end of a fiscal quarter or year.
  • Income Statement or Profit and Loss Report – reports on a company’s income, expenses, and profits over a period of time, such as a fiscal quarter or year. This includes sales and the various expenses incurred during the stated period.
  • Statement of Changes in Equity or Statement of Retained Earnings – reports on the changes in equity of the company during the stated period, such as a fiscal quarter or year.
  • Cash Flow Statement – reports on a company’s cash flow activities, including its operating, investing, and financing activities. These are typically referred to as sources and uses of cash.

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