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FINANCIAL STATEMENTS PREPARATION

FINANCIAL STATEMENTS PREPARATION

A financial statement consists of all the relevant financial information, presented in a structured manner and in a form easy to understand. Financial Statements always include a statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows an extensive set of notes to the financial statements and an explanation of financial policies and management discussion and analysis. At MT Financial Services and Book Keeping, we have highly trained and experienced resources to assist with complex accounting and disclosures. Our team will assist you to achieve regulatory compliance in making required financial disclosures, including consideration of new accounting standards. We use streamline methodology and technology resources to prepare financial statements.

Summary of Financial Statements

  • Income Statement

    This record shows you how much revenue your business makes after deducting all the expenses

    Statement of Financial position

    Statement of financial position is used to report liabilities, assets, and the shareholder equity of your company

    Cash Flow Statement

    Cash flow statements account for any changes in the cash balance; they show the source of the cash and details of how it is being used.

    Statement of changes in equity

    The statement of changes in equity is a reconciliation of the beginning and ending balances in a company’s equity during a reporting period.

    Notes to the accounts

    Notes to the financial statements disclose the detailed assumptions made by accountants when preparing a company’s financial statements.

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