Financial Statements

Carolina Bookkeeping > Financial Statements

Profit and Loss statements are one of the reports that allow the owner to not only observe financial performance in the context of former performance but also in the context of budgets and goals of the company.  Balance Sheet reports are the business movie, so to speak and constantly record the new events in the life of the business and the overall health of the business. Balance sheets are also extremely important for acquiring loans the business may require and as a tool to measure debts compared to assets and cash flows from the business. Sources and uses of cash are the third financial statement report and is extremely important for the business owner to understand before growing the business, making acquisition decisions or eliminating unprofitable business and should be a centerpiece of all financial reviews.