Financial Reports

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Financial Reports

Essentially, financial reporting is concerned with tracking, Analyzing, and showing your business income. This report examines resource usage, cash flow, business performance, and the company’s financial well-being.

The primary goals of reporting financial data are:

  1. Providing information to the business owners

  2. Keep track of your cash flow.

  3. Is your business make money? Where is it headed?

  4. Review reports seeing how your business is tracking.

Better bookkeepers provide taxation support, to the companies accountants. A business needs to understand its finances to increase its company and shareholder base.

When you choose Better Bookkeepers , you will have access to your financial reporting whenever you want, thanks to Cloud based Accounting and real-time bookkeeping.

  • Regular Reporting

  • Balance Sheet

  • Profit & Loss

  • Stock

  • Accounts Payable & Receivable

  • Monthly journals when required

  • Preparing year-end accounts for your business accountant

  • Monthly & Yearly comparisons for sales, purchases, stock

  • Cashflow

Business plan market

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Those businesses which make a lot of profit pay a lot of taxes. Their accurate financial reporting reduces their tax burden and ensures that all their resources are not exhausted in a short space of time.

A prospective investor wants to know how the company is doing before investing. Capital providers, investors, and creditors look at financial reports to gauge the safety and profitability of their investments.

The performance of operations during the period is also something business owners/investors ought to consider. Income statements provide financial information about sales, expenses, and profit or loss.

Business owners/investors need to review a company's cash flow statement. An organization's cash flow statement displays cash exchange with the outside company over an extended period. A company's balance sheet helps investors assess whether it has enough cash to cover its expenses and purchases.

Equity investors consider the shareholders' equity statement necessary. The chart illustrates the changes in equity components like retained earnings over time.

Having accurate financial information can help businesses avoid costly mistakes and other errors at an early stage. There is no better method of detecting illegal economic activities than detecting discrepancies in financial statements. The reconciliation process can reveal mistakes.