At the most minimal level, a business is expected to issue an income statement and balance sheet to document its monthly results and ending financial condition. The full set of financial statements is expected when a business is reporting the results for a full fiscal year, or when a publicly-held business is reporting the results of its fiscal quarters. Jacobs Cohen can completely take over your company’s financial statements for you, handling the following.
- Determining the ability of a business to generate cash, and the sources and uses of that cash.
- Clarifying whether a business has the capability to pay back its debts.
- Tracking financial results on a trend line to spot any looming profitability issues.
- Deriving financial ratios from the statements that can indicate the condition of the business.
- Investigating the details of certain business transactions, as outlined in the disclosures that accompany the statements.
- Balance sheets.
- Income statements.
- Statement of cash flows.
- Supplementary notes.