Financial Statements

Why Financial Statements are Important

Financial statements can provide wide-ranging benefits for business owners to determine the performance and health of a business.

• Profit and loss statements can provide identify your business financial performance
• Balance sheets offer a snapshot of your business assets and liabilities at a specific point in time

Financial statement preparation is important for your business to determine if the business can pay its debts when they are due (solvency).

Who Needs Financial Statements?

Financial statements are normally prepared for specific stakeholders of the business such as directors, banks, Australian Taxation Office, industry associations, finance companies and insurance companies.

Why Choose Accountants to Prepare Financial Statements?

Financial statement preparation without any prior experience can be stressful, inaccurate and ultimately waste a lot of precious time that can instead be dedicated to focusing on your business.

Not only can we prepare your financial statements, using the insights, but we can also advise you on:

• Your business direction and health
• Address business shortcomings
• Potential future growth