Service Type: Financial Statement Improvement

Financial Planning

Opportunity: One of the great opportunities of having timely and accurate internal financial statements is the opportunity for future financial planning. The future: Financial planning allows an owner to look into the future. Balance sheets, income statements and other financial instruments may be projected many years into the future, which might give an owner the... Read more »

Timely Financial Statements

Differences: It is almost an adage that financial statements should be timely and accurate. These disciplines of timeliness and accuracy are two different topics. Financial statements may be accurate but not timely. They may be timely but not accurate. Financial statements: Financial statements for businesses usually include income statements, balance sheets, statements of and cash flows. (Investopedia.com). Timely: There is no... Read more »

Accurate Financial Statements

Definition: Financial statements for businesses usually include income statements, balance sheets, statements of and cash flows. (Investopedia.com). Income Statement: The income statement covers a range of time (such as a calendar or fiscal year). The income statement provides an overview of revenues, expenses, net income. Balance Sheet: The balance sheet provides an overview of assets, liabilities and stockholders' equity as a... Read more »