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. We format our reports in a structured manner so that the total of ass assets equals the total of all liabilities and equity. This is also known as the “accounting equation”. 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,
howeverit 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.
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