Online Financial Statement Preparation

Financial statements are the tools for businesses to communicate their story. They represent the profitability and financial strength of a business. Financial statements also enable your business to make informed decisions by highlighting which areas provide the best results and returns. This makes financial statement preparation a step of utmost importance in your accounting cycle. Preparation of financial statements can be simple or complex depending on the size of an organization.

We at BizFinTax.com possess the technical skills and depth of knowledge required to assist you in the preparation of timely and high-quality financial statements.

We possess the necessary knowledge and experience to assist you in not only preparing compliant, reliable, and timely financial statements but also in improving the quality of financial reporting. Our aim is to provide you with a competitive edge in today's competitive environment.

List of Financial Statements We Are Preparing

• Balance Sheet - Balance Sheet displays everything that is owned (assets) and cared (liabilities) by a company, including the owner's equity. It also illustrates how a company is utilizing its assets and shows the overall status of your business at a particular point in time.
• Profit & Loss Report - The profit & loss report shows the revenues earned and expenses incurred during a particular period of time. It is also called an income statement and shows a company's ability to generate sales and manage expenses over that period of time.
• Cash Flow Statement - Cash Flow Statement shows the debit and credit of cash transactions during a particular timeframe. This helps in identifying cash flows through operating, financing, or investing activities.

Credit Decisions

Lenders need your financial statements to determine your creditworthiness and to see whether you are eligible for receiving funds from them.

Investment Decisions

With the help of financial statements, investors can determine whether investing in your business will be profitable for them or not.

Taxation Decisions

The amount you pay as tax is determined based on the assets and income that your company has, which is defined by these financial statements. Assessing these statements throughout the year as a part of your regular tax planning activities is important. You need to prepare financial statements to calculate your state and central tax obligations.