Financial Reporting

Businesses can either use the cash or accrual method of accounting. Most companies–especially companies that are trying to grow–should use accrual accounting.

Cash flow forecasts help businesses strategically plan the amount of cash they have in their bank accounts available for future operations and expenditures.

The profit & loss statement (P&L) is one of the three main financial statements a business needs. The P&L measures a company’s financial performance and profit.

It’s vital for companies to have regular financial meetings with a CFO so important trends in the financial performance can be highlighted and discussed.

A balance sheet tells you the financial health of your business. It’s vital if you want to know how much your business is worth, or if you’d like funding.

Without cash, you cannot pay employees or vendors and business operations stop. A cash flow report makes sure your company never runs out of cash.