Having accurate financial statements gives a business owner a clear picture of how their business is performing. The information from the financial statements can help you make important business decisions and grow your business. I can provide you with financial statements that include a balance sheet, income statement, and statement of cash flows on a monthly or quarterly basis. The financial statements can be tailored to the needs of the business owner.
Balance Sheet
The balance sheet shows the financial condition of a company at a specific point in time (e.g., As of December 31, 2020). A balance sheet has three sections that consist of a company’s assets, liabilities, and shareholder’s equity.
Income Statement
The income statement is one of a company’s main financial statements. It is sometimes referred to as a P&L (profit & loss statement) or statement of operations. The income statement shows the performance of a company by reporting a summary of revenues, expenses, and the net income or loss over a specific period of time (e.g., 1 year, 1 month, Quarter, etc.).
Statement of Cash Flows
The statement of cash flows summarizes the amount of cash that flows into and out of a company. The cash inflows and outflows are broken out by operating, investing, and financing activities. Business owners, investors, and lenders use this statement to identify the sources and uses of cash.