Talking Cents

The four main financial statements, by small business accountants in Melbourne

Some of the most important financial statements for small businesses allow for you to determine where your business can go and where your business currently is. Our small business accountants in Melbourne will tell you what the main financial statements are.

There are four main financial statements that our business accountants in Melbourne will tell you about, which are:

• Income statement – reveals the financial performance for a business during an entire period, it includes your sales and expenses with a main goal of providing you with a net profit or loss amount
• Balance Sheet – is a report about the business’ current financial position, it includes your assets and liabilities (both long and short term). Most of the time it is recommended for you to consult with any of our small business accountants in Melbourne’s CBD when trying to finalise and balance it
• Statement of Cash Flows – This report talks about the money that goes in and out of the business during the report period
• Statement of Changes in Equity – this is one of the simplest reports you’ll get from your accountant, as it talks about all the equity changes during the accounting period

Our Melbourne small business accountants ensure that these financial statements are clear and concise for you to understand as a small business owner.

Feel free to contact our small business accountants in Melbourne if you have any enquiries about your financial statements or if you’re looking for a new accountant.