At C.E. Thorn, CPA, PLLC, we understand how important it is for you to focus on the success of your business. Our small business accountant can assist with financial statements and monthly accounting.
Outsourcing your monthly accounting allows you to focus on growing your business.
Preparation of Monthly Financial Reports
Monthly financial reports can help you determine the financial health of your business and can give you a clearer idea of your income and expenses.
Income Statement
The income statement shows a business's income and expenses. It helps to determine whether a business was profitable or not during a set period and helps identify how well the company is performing.
Balance Sheet
The balance sheet is a summary of a business's financials that outlines the net worth of a company.
Additional bookkeeping services we provide include:
- Monthly Bookkeeping
- Business Tax Preparation
- Monthly Financial Statements
- Accounting for Startups
- Choosing a Business Entity and Obtaining Federal Tax ID
We Also Provide Financial Statements for Businesses in the Following Locations:
Frequently Asked Financial Statement Questions
What are the four Financial Statements used in small business?
There are four primary financial statements utilized by our small business accounting firm: the balance sheet, the income statement, the cash flow statement, and the statement of shareholder equity.
- The balance sheet provides a preview of a company’s assets, liabilities, and shareholder equity at a particular point in time.
- The income statement showcases a company’s revenue and expenses over a period of time, typically one year.
- The cash flow statement tracks the inflows and outflows of cash within a company over a certain time period.
- The statement of shareholder equity shows how much total equity is held by shareholders at a given point in time.
Do small companies have to prepare financial statements?
Yes, small businesses in Garner, NC should prepare financial statements. There are many reasons for this. First, financial statements provide specific valuable information about a company’s current and past financial health which is important for potential investors, creditors, and other stakeholders. Second, financial statements are used to comply with important tax and regulatory requirements. Finally, financial statements can aid an owner make informed decisions about where to allocate resources.
What two financial statements are most critical to small businesses?
There are two primary financial statements that small businesses should focus on to prepare for small business accounting purposes: the balance sheet and the income statement.
Does a small business need a balance sheet?
A balance sheet is not required to successfully operate a small business. However, a balance sheet is an important financial statements that businesses use to provide insights into their overall financial health. The balance sheet showcases a company’s assets, liabilities and equity at a specific point in time. For businesses of any size, having a balance sheet can give a look into whether the business is currently operating at a profit or loss, and whether it has the financial resources to expand or pay down debt.
What are the main uses of financial statements?
The most important uses of financial statements are to help a company make decisions about where to allocate resources. They also help to provide information to potential investors so they can make informed decisions about whether or not to invest in the company. Financial statements also play a role in assessing a company’s creditworthiness.
Contact Our Accountant for Monthly Financial Statement Preparation
Our CPA firm has served Garner and the Triangle for over 26 years with monthly accounting and financial statement preparation. Contact us today at 919-420-0092 or fill out the form below.
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