Preparation of basic financial statements.
As a business owner, you are responsible for everything from customer satisfaction and sales to inventory and overhead. However, the culmination of your hard work ultimately boils down to your company's financial statements. It is extremely important that the preparation of your financial statements is done accurately and without bias.
Types of Basic Financial Statements
Financial statements, by presenting a picture of the value of your business, impact the future of your business and your overall tax burden. This is why working with an experienced accounting services company that can create, audit, and analyze complex financial statements before submission or filing is crucial. The four main types of financial statements are:
Balance Sheet: This financial statement provides a snapshot of assets, liabilities, and equity for a specific period.
Income Statement: This financial statement shows the income, costs, and expenses at a specific point in time.
Cash Flow Statement: A crucial indicator of your operational capital, this statement records cash inflows and outflows for your business.
Statement of Changes in Equity: It shows the changes in the ownership interest at a given point in time.
In summary, these four financial statements offer insights into your company’s growth, obstacles, and obligations.
Zarrin Taraz Golestan Accounting Services has extensive experience working with business owners to ensure that their financial records are accurate, while also focusing on reducing taxes.
Contact Zarin Taraz Golestan Financial Services Today
Financial reporting is an aspect of doing business that requires deep accounting knowledge and precision. Trust only the best with your business finances and choose Zarrin Taraz Golestan for professional financial statement preparation. Contact Zarrin Taraz Golestan today to schedule a consultation.
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