Financial Statement
A formal financial statement is a document detailing a company's cash flows, position, and performance. It organizes and summarizes financial data, including the income statement, balance sheet, and cash flow statement.
Why does your business need Financial Statements?
Financial report preparation services based on transaction documents and other documents related to the company's financial transactions, which will later become a complete and complete financial report in accordance with SAK.
The purpose of financial statements is to provide information regarding the company's financial position, company performance, and changes in company capital which will later be used by interested parties in making decisions.
Several components in the preparation of financial statements are:
- Balance Sheet or Financial Position is a financial report that displays information on how the financial position of an entity is at a certain date, usually at the end of the year.
- Profit and loss is a statement of the operating performance of an entity during a certain period.
- The statement of owner's equity (capital) is a presentation of a summary of changes in owner's equity in an entity for a certain period.
- Cash flow statement is a report that describes the amount of cash in and cash out in a certain period.
Prepare Financial Reports using the services of R.E.D
We are here to provide financial statement preparation services in accordance with applicable Financial Accounting Standards. Financial statement preparation services are obtained through transaction evidence and other documents used to support operational evidence. In addition, there is a double cross check between the PIC recording at the client and the R.E.D to avoid financial abuse.
FAQ's
Most question asked on this services:
Financial statements consist of several key components. The income statement shows revenue, expenses, and net income or loss over a specific period. The balance sheet presents assets, liabilities, and equity at a given point in time. The cash flow statement details the cash inflows and outflows during a period. Lastly, the statement of changes in equity outlines changes in shareholders' equity.
Financial statements are utilized by various stakeholders. Investors assess a company's financial performance to make informed investment decisions. Creditors evaluate a firm's ability to repay debts. Management uses financial statements for internal analysis and strategic planning.
Regulatory bodies, analysts, and potential business partners also rely on these statements for different purposes.
Typically, companies prepare financial statements quarterly and annually. Quarterly statements provide insights into short-term performance, while annual statements offer a comprehensive view of the company's financial position over a full fiscal year. Additionally, companies might create other specialized reports or statements as needed for specific purposes or stakeholders.