At The Going Concern, we take care of your financial Reporting needs. We help you to take your business decisions in a manner that helps you in getting complete outsourced financial reporting services for your business. We Provide various financial reports as well as help you in preparation of budgets for your business.
In any industry, whether manufacturing or service, we have multiple departments, which function day in day out to achieve organizational goals. The functioning of these departments may or may not be interdependent, but at the end of the day, they are linked together by one common thread – Accounting & Finance department. The accounting & financial aspects of each and every department are recorded and are reported to various stakeholders. There are two different types of reporting – Financial reporting for various stakeholders & Management Reporting for internal management of an organization. Both these reporting’s are important and are an integral part of the Accounting & reporting system of an organization. But considering the number of stakeholders involved and statutory & other regulatory requirements, Financial Reporting is a very important and critical task of an organization. It is a vital part of Corporate Governance.
Financial reporting is essentially a way of following standard practices to give the world an accurate depiction of a company’s finances, including their :
All of these financial KPIs are important because they show the “health” of a company – at least when it comes to money.
The income statement shows the revenue and expenses of the company over a period of time. Most companies issue an annual income statement, but quarterly and semi-annual income statements are also common. Business owners can analyse the income statement to see if companies are operating efficiently and producing enough profit to fund their current operations and growth.
We at The Going Concern prepare an Income Statement on monthly/quarterly/half yearly/yearly basis to help business owners to take their business decisions for balancing fiscal year to achieve yearly goals.
The income statement shows the revenue and expenses of the company over a period of time. Most companies issue an annual income statement, but quarterly and semi-annual income statements are also common. Business owners can analyse the income statement to see if companies are operating efficiently and producing enough profit to fund their current operations and growth.
We at The Going Concern prepare an Income Statement on monthly/quarterly/half yearly/yearly basis to help business owners to take their business decisions for balancing fiscal year to achieve yearly goals.
The balance sheet a summary of the company position on one day at a certain point in time. The balance sheet lists the assets, liabilities, and owners’ equity on one specific date. In a sense, the balance sheet is a picture of the company on that date. Investors and creditors can use the balance sheet to analyse how companies are funding capital assets and operations as well as current investor information.
We at The Going Concern prepare a Balance Sheet on the monthly/quarterly/half yearly/yearly basis to showcase the client for their current position of Assets and Liabilities which can help them to take effective business decisions.
A cash flow statement is a financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.
The statement is useful in determining short-term ability of the company to meet its liabilities as it does not include non-cash items like depreciation.
It lists cash to and cash from operating, investing, and financing activities, and also the net increase or decrease in cash for a particular period
We at The Going Concern prepare a cash flow statement that can help you determine :
Our comprehensive cash flow management solutions include :
Benefits of outsourcing a Cash Flow Statement :
A detailed and realistic budget is one of the most important tools for guiding your business and providing the information necessary to operate within your means, handle upcoming challenges, and ultimately turn a profit. Without a budget, it can be like shooting in the dark. A solid budget identifies currently available capital, estimates expenditures, and anticipates revenues. You should continually refer to your business' budget as a way of measuring performance against expectations.
A carefully constructed budgets allow a business to continually track where they are financially. This allows for strategic, long-term planning for everything from current operating costs to potential expansion. Knowing where the budget stands opens up the ability to hire new staffers, invest in new product lines and set earning goals in line with the organizations’ corporate financial objectives. Other benefits include :
We at The Going Concern helps you to set up your budget, compare the budget with actual results on a monthly/quarterly/half yearly/yearly basis and advises you to achieve your budgeted goals. We also provide customized services to our client to help them to set up their budgets and provide various related reports based on their requirements.
We provide standard reports like – Income Statement, Balance Sheet, Cash Flow Statements, Budget Reports, Accounts Aging Report, Accounts Payable Report etc. However, as a business owner, you may need customized reports based on your specific requirements which can help you to analyze your business performance and further help you to take effective decisions.
We at The Going Concern provide Customized Reports to the client based on their requirement and business needs.