Team collaborating together to prep financial statement

Financial Statement Preparation by Trusted Accountants

We know that business owners and senior managers are mainly focused on running and expanding their businesses. We reduce stress by providing clear and detailed financial statements of the company’s health. Whether you need an income statement, balance sheet, statement of cash flows, books clean-up or/and books catch-up, we can help with financial preparation.

Why Choose Us?

We pride ourselves on delivering high-quality, personalized financial services to our clients.

Our experienced accountants prepare your financial statements securely, accurately, and professionally.

Balance Sheet

A balance sheet provides a snapshot of the company’s financial position at a particular point in time. It outlines the assets, liabilities, and shareholders’ equity, giving a clear picture of the business’s net worth.

By preparing a balance sheet, management will recognize the company’s financial stability. They can check if the company has enough assets to cover its short-term and long-term obligations. This information is important for making smart decisions about the future.

Knowing the financial health of the company helps them plan for growth. In addition, it assists to handle unexpected challenges and aim for long-term success. It’s like having a map that shows where the company stands financially, helping guide it in the right direction.

Income Statement

An income statement, also known as a profit and loss statement, summarizes company’s revenues and expenses. This financial statement is necessary for understanding profitability and efficiency for a reporting period.

An income statement helps management see how the business is performing. They can check if the company is making enough money compared to what it spends. This understanding is crucial because it shows if the business is running efficiently and where it might need to improve.

It’s like a detailed score sheet that shows the strengths and weaknesses of the business. Knowing the profitability from the income statement allows management to plan for the future with confidence.

Judy Gallegos

Stoner’s Haven

True Accounting & Finance Experts are amazing to work with. They timely handle your business with the utmost professionalism. They are exactly what their title states –
my trusted CPA expert.

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Statement of Cash Flow

The statement of cash flows shows how changes in the balance sheet and income statement affect cash and cash equivalents. It provides insights into the company’s cash inflows and outflows from operating, investing, and financing activities.

With a well-prepared statement of cash flows, management can manage cash effectively. This ensures the business remains financially healthy. Proper cash flow management is essential for sustaining day-to-day operations and supporting growth initiatives.

Clean-up/Catch Up

In addition to our financial statement preparation services, we offer specialized catch-up and clean-up services. This helps small business owners get their financial records in order. Our team can help update your records, whether you’re behind on bookkeeping or need to correct past errors.

We design our catch-up services for businesses needing to quickly update their financial records. On the other hand, our clean-up services help businesses correct errors and discrepancies for all accounting periods.

Angie P, Owner

The Glam Lounge

“Awesome services. I was so behind in Quickbooks and a mess. They got everything organized and up-to-date. I will definitely do business with them again.
Highly recommended”

Software Experience

At True Accounting & Finance Experts, we excel in using the industry’s most trusted accounting software. Quickbooks, Wave, Xero, Sage, and Freshbooks are great accounting software to prepare financial reports.

These powerful tools enhance our financial preparation services, enabling us to deliver timely and accurate reports. Their longstanding industry reputation underscores their reliability and effectiveness. We customize our services to meet your specific financial needs, ensuring you receive excellent service tailored just for you.

What are General Accepted Accounting Principles (GAAP)?

Generally Accepted Accounting Principles (GAAP) are a set of rules for how companies should report their financial information. Created by the Financial Accounting Standards Board (FASB) in the U.S.

GAAP ensures financial statements are consistent, clear, and comparable. These rules include the accrual basis of accounting. Accrual accounting records income and expenses at the time they occur. GAAP includes rules for recording revenue, organizing items on the balance sheet, and determining important information.

Public companies must follow GAAP, and many private companies and non-profits do too.

What are CPA prepared financial statements?

A CPA-prepared financial statement is a document that a Certified Public Accountant (CPA) has either prepared, reviewed, or audited. CPAs are highly skilled professionals who specialize in accounting and financial services. They can help businesses by creating financial statements, and their involvement can vary. Depending on how involved the CPA is, the financial statement can provide different levels of confidence.

There are three main levels of CPA involvement. First, in a compilation, the CPA organizes the financial information provided by the business without verifying its accuracy. This offers a basic level of assurance. Second, in a review, the CPA performs some checks and asks questions providing a moderate level of assurance. Finally, in an audit, the CPA thoroughly examines the financial records. This offer the highest level of assurance that everything is accurate and follows the rules. Each level helps businesses and stakeholders make informed decisions based on the financial statements.

What is the difference between clean-up accounting and catch-up accounting?

Catch-Up Accounting:

Catch-up accounting is when you update financial records that have fallen behind. Imagine not doing your homework for a while and then having to catch up on all of it at once. In business, this means going back to record every transaction that was missed.

The goal is to make sure all the numbers are up to date, so you know exactly how much money came in and went out. This helps businesses see a clear picture of their finances.

Clean-Up Accounting:

Clean-up accounting is like tidying up your room. It’s about fixing mistakes and organizing everything so it’s neat and accurate. Instead of just catching up on missed entries, you look at your current records and make sure everything is correct.

You correct errors, reclassify transactions, and ensure all accounts balance perfectly. This process is important for businesses to have reliable records.

Timely Financials.
Contact Us Today.

At True Accounting & Finance Experts, we provide high-quality, tailored financial services.

Our experienced accountants prepare your financial statements with security, accuracy, and professionalism. Also, a lead CPA assigned to each project.

Discover how our customized services can benefit your organization and ensure financial accuracy.

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