Financial Statements

Finciancial Statements


Financial Statements or a Financial Reports, are an essential part of knowing where you stand, and to let others know as well. We specialize in providing the best statements possible for our clients. We cover all angles. From Balance Sheets to Cash Flow Statements. At McNabb Lucuk LLP Chartered Professional Accounts, we’re committed to offering you the highest grade of professionalism. Our professional reports include:

  • Income statements. Displays the profits, losses, expenses and revenues during the desired period.
  • Balance Sheets. Displays the equity, liabilities and assets of the entity during the desired period. The information displayed is specific and based on a particular point in time. The Balance Sheet is considered one of the more important Financial Statements because it presents information about the organization’s capitalization and liquidity.
  • Statement of Cash Flows. Displays the outflows and inflows that took place during a specific period of time. Provides useful information for the income statement. For example, a comparison between the amount of profit or loss reported when it does not reflect the business’s cash flows.
  • Statement of Retained Earnings. Displays changes in equity during a specific period of time. The format is extremely fluid, however, it can include the sale or re-purpose of stocks, changes caused by reported profits or losses, as well as dividend payments. Being the least used Financial Statement, it is commonly only part of the audited financial statement package.

Page last reviewed : 29 April 2022 by Marlin Lucuk

Next review due: 29 April 2023


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We want your respect. But we want to earn it — and not for what we did in college, or because of the brand of tie we wear. We want the level of excellence that we apply to your personal case to be the defining standard for how you see us. Beyond all the jargon, we want to be real people helping real people. We believe in partnerships, not service arrangements. We appreciate the diversity of backgrounds and businesses that our clients represent. Some come from small farms. Some from city condos. Some have established corporations with multiple offices. Some are working on getting their first employee or their second truck. We do our best to help everyone where they’re at, while gently aiming them towards where they want to go. We live in the same neighbourhoods as many of our clients. Our kids go to the same schools. And we all want them to inherit a healthy and prosperous community, built on the values that got us this far.This is a responsibility we take very seriously.We provide generous support to a number of local charities. Additionally, several members of our staff serve on local boards for groups like the SPCA and United Way. But giving is only part of the puzzle. To keep the future bright, we have to do our part to support the ability of local businesses to generate enough profits to be generous. This is what we’ll be judged on in the long-term, and this is what keeps us coming back every day. At McNabb Lucuk LLP Chartered Professional Accounts, we are committed to offering you the highest grade of professionalism. We offer a wide range of Business Consulting Services. What is Business Consulting? How can we help you? We provide a multitude of services that can help you become completely financially independent. It’s our goal to do be more than just a financial service to your organization. We want to help your organization become self-sufficient. Your time is worth more than just money. We have the ability to help manage your organization’s time and finances. Our professional services include:Strategy Consultation. Financial strategy is the backbone of any business. We make sure you have the proper strategy that serves your business properly. Management Consulting. Implementing your Financial strategy can be difficult. We help streamline the process. Operations Consultation. We help you improve the performance of your financial operations by helping you with primary and secondary functions of your financial strategy.