Financial Statements

Best Financial Statements Services

Financial Statements

We can prepare or supervise the preparation of your financial statements. Then fully compiled, reviewed or audited statements can be provided according to your needs. More importantly, we can help you use these statements as well as other reports to better manage your business and increase your profitability as good financial records are necessary for several reasons:

» Daily operating decisions are based on financial reports.

» Bank loans require reports of past performance.

» Tax return numbers need proper substantiation.

Prepare financial reports monthly for year-to-day comparisons and to make quick management decisions, financial reports must be done monthly. “As goes the month, so goes the year.” With financial statements, you will be able to compare the sales, gross profit, and net profit at, say, the end of May with prior years and get a good idea of how the current year will finish.

You will also be able to compare the total accounts receivable or payables with prior years to spot problems and then quickly take corrective action. Here are some common business ratios you should monitor on a month-by-month and a year-by-year basis:

» Current ratio
Current assets divided by current liabilities will measure your ability to pay your current debts.

» Debt to equity ratio
Total liabilities divided by net worth will provide you with a year-to-year comparison of your ownership in the company.

» Receivables outstanding
Receivables divided by average sales per day will give you the number of sales per day on the books.

» Profit margin
Gross profit divided by net sales will allow you to compare your business operations to other companies in your industry, as well as monitor your own operations over time.

Understanding financial statements can increase business profits. If you would like to learn more about using financial statements to make sound business decisions, we would be happy to assist you. While we know that no one was born understanding financial information, we believe it is easier to learn than most people think.

contact details

  • 26 W Merrick Rd.
    Valley Stream, NY 11580
  • 516-800-7800
  • 866-827-0589

“I was recommended to Wali Syed of Financial Scope from my dear friend. Her mom and many of her office colleagues had been using him for years. We have been with him now for over five years and are so pleased with his service. From the beginning, Wali was so informative and knowledgeable in advising me over the phone. He was patient and very thorough. They are by far the fastest, most reliable, and affordable accounting services we have ever used. They made the entire process so simple and stress free. I would not hesitate to recommend them to anyone from large businesses to self-employed.”

Ella
Self Employed
  • Profit
  • Loss

Our consulting and accounting department offers an excellent financial statement preparation advice, management and administration service on the accounting and economic resources of companies, both SMEs and professional freelancers in NYC. We take care of performing and controlling... the records of accounting and financial statements completely, in the same way that we carefully analyze all the data generated and provided by the client in relation to the accounting process, to subsequently make the corresponding evaluation reports for detailed monitoring of work and an optimization of business economic management.
We carry out an updated control and monitoring of the economic situation of companies, providing solutions on financial resources and business accounting.
Advice and management of business accounting in NYC
We have a team of advisors and managers specialized in the financial accounting of companies, as well as in the legal and fiscal aspects of all issues related to economic activity and business management. We work quickly and efficiently, always using the best methods and systems on the control and management of financial statements and accounting, both books and accounting records, such as billing, cash flow and balance sheet.
We carry out each and every one of the business accounting tasks in full or for specific points, adapting to the needs of each client. Our work plan consists of the planning and structuring of the accounting process and the preparation of reports on the financial economic situation according to the data provided and obtained from the accounting. We manage all accounting records and entries for the year, always applying the regulations of the General Accounting Plan in force, for a correct presentation of the accounting books and annual accounts.