Annual Financial Statement Preparation
Financial statements provide an extensive range of benefits for business owners, helping them determine their business’s performance and health. Financial statement preparation is important for your business to determine if the business can pay its debts when they are due. At AKM Accounting, our accredited accountants with their enormous market experience will produce your annual financial statements conforming to the highest standards of quality and in accordance with the governing law, regulations, and provisions. Your financial documents are safe with us, and we ensure the delivery of our service and the financial statement are prepared accurately and on time.
Our team is always adept with the latest trends and technologies and use the latest software to analyze your numbers and examine any loopholes in your business activities and transactions. A well-organized financial report ensures that a business’s daily operations are not troubled, and it stays efficient and is conducted as effectively as possible. Our team specializes in developing annual financial reports in compliance with IFRSs, GAAP, and the country’s laws and regulations. To learn more about our annual financial statement preparation, get in touch with our experts.
Statement of Financial Position(Developing Balance Sheet) – We evaluate all your assets, shareholders’ equity of your company, and liabilities to conclude your financial positions at the end of the year.
Income Statement(Producing the Profit and Loss Account) – Our team prepares an income statement that depicts the income earned and expenses incurred by the company. It also helps us understand whether your business is making a profit or loss in a given period.
Cash Flow StatementIt is important to keep a check of where, when, and how the cash is being used. By preparing a cash flow statement, you have complete details on both incoming and outgoing cash and can prepare your budget accordingly.
Receipt and Payment AccountIt is important to keep a record of all the receipts, both invoices sent, and payments received. This way, you can keep track of every payment activity.
Income and Expenditure AccountWe prepare this to give you a clear picture of how much profit you have earned, and the losses incurred over a given time period.
Fund Accountability StatementWe also prepare self-balancing accounts for a non-profit organization in the form of the fund accountability statement. It is responsible for safeguarding all your assets.
Budgeting Financial StatementWe help you prepare a budgeting financial statement as it allows us to keep your finances in control and prevent you from making any unfavorable decision for the business.
Why Outsource Financial Statement Preparation to AKM Accounting
Improve Financial Transparency
A financial statement prepared by us gives you a clear picture of where you should invest your funds and where you should cut down on your expenses. It also provides you insights on where your company’s position in the market.
Calculate Tax Liability
Serving as your dedicated tax agents, our innovative team with their tax-efficient strategies will help your business achieve its goals while complying with the local VAT laws.
Our mission is to ensure financial security and social responsibility and enhance every client’s confidence level. Our team will evaluate your financial transaction and eliminate both existing and forthcoming errors.
Better Payment Cycles
The payment cycles need to be effective and consistent if one wants an overall healthy accounting practice in an organization. We help you with this part as well by planning and implementing better options for your payment plans.