Posted by: Garcia & Cuadra, PA | January 23, 2013

Financial Statements Preparation | Tampa

Financial Statements Preparation | TampaYou pour all your time and energy into your business. You built it from the ground up and have watched it grow. As your company gets bigger, keeping track of the financial side gets exponentially more complicated. It also becomes increasingly important to do so. Solid financial statements preparation becomes the key to analyzing the financial side of your business. These important documents will show you where the weaknesses in your business are. More importantly, proper statements give your investors and creditors the confidence to continue working with you. Because of their importance, you should consult with an experienced financial consultant that will prepare statements that keep your company moving forward.

Why are financial statements so important? It isn’t simply a requirement of doing business, it is an absolute necessity. When you approach investors or creditors, they need to know how your company performs financially. The key areas that people will be interested in knowing are financial conditions, operating results, cash flows, and shareholders’ equity. Financial statements preparation needs to adequately provide this information. A balance sheet will show the financial condition of your company by stating the debt and equity components to give investors a better understanding of where they stand. The financial statement of income is responsible in highlighting operating results such as sales, expenses and profits or losses. Additionally, a cash flow statement provides information about the movement of cash between your company and the public while a shareholder equity statement illustrates changes in various equity components, including retained earnings, during a period. Ensuring accuracy in these documents will provide your company with the necessary partnerships to maintain operating revenues.

Of course, these statements are not just for the public. Proper assessment of your company’s financial performance is valuable in making the right choices to steer your company toward better profits or it can help assure you that income is being generated despite contrasting indicators on the surface. Income does not always mean deposits in the bank. Accurate financial statements preparation will show you where the worth in your company currently is. How often you need to create these documents depends on your business size and cycles. However, you want to make sure you do them often enough to appease those who generate capital for you and allow you to make shifts in time to correct any problems in performance.

Call Garcia and Cuadra of Tampa at (813) 415-2431 to have experienced financial consultants aid you in your company’s financial statements preparation.

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