Talking Cents

Our small business accountant in Melbourne explains the elements of financial statements

There are a range of financial statements that our businesses need in order to get the right information and each statement will have elements that cross over one another. So our small business accountant in Melbourne will tell you what the different elements of financial statements are.

Offering small business accounting services in Melbourne’s CBD, means that we deal with financial statements on a daily basis and it is crucial for these elements to be present:

• Assets
• Liabilities
• Equity
• Investment by owners
• Distribution to owners
• Revenues
• Expenses
• Gains
• Losses
• Comprehensive income

If you provide you business accountant in Melbourne with those components you will most definitely be getting the right information back in your financial statements.

As always, feel free to get in contact with our small business accountants in Melbourne.