Do you need to get a loan from a bank? Are you hoping to get investors and raise capital for your small business? No matter where you look towards for funding, you will need to provide financial statements to prove the financial health of your company.
With the financial statement preparation and review services at Pasquesi Partners, rest assured that your finances are being managed by the experts who care to make your business succeed. We offer full-service accounting and monthly financial statement preparation services to make your financial information easy to access at anytime and from anywhere.
The balance sheet is a snapshot of your business financials with elements that reflect the day-to-day activities of the business. It includes all company assets, liabilities, and current net worth. Analyzing the balance sheet as part of the financial statement can help you can monitor your ability to collect revenues, manage your inventory, and assess your ability to satisfy creditors and stockholders. The balance sheet will include references to:
- Represent the use of business funds
- Acquired by funds provided by the creditor/investor
- Represents the obligations to creditors
- Includes Current, Non-current, and Total liabilities
- Represents the owner’s investment within the business
- Enables a business to continue (or expand) operations
The income statement, also known as the profit and loss statement, includes all income and expense accounts over a certain period of time and shows the income potential the business will have after all expenses are accounted for. The statement takes into account all expenses, revenue, and capital gains or losses.
One of the basic financial statement, an equity statement details the finer financial points of a business including:
- preferred stock
- contributed capital
- common stock
- retained earnings
This statement also indicates how retained profit or surplus has been applied throughout each financial or accounting period.
Cash Flow Statement
The cash flow statement reports the cash generated and used during a specified period of time and determines how cash is flowing in and out of the business. This statement is a crucial tool for both business owners and their potential investors since it involves disclosing cash flow involving operating, investing, and financing activities. Also included within the cash flow statement are factors of depreciation, gains or losses on assets, and any changes in current assets or liabilities.
Our Chicago-based accounting firm is here to help.
At Pasquesi Partners, we offer financial statement review and compilation services, which are designed to assist you in preparing and presenting meaningful financial statements that offer an appropriate level of credibility and reliability to investors, creditors or others who want to evaluate your business.