Financial statements accomplish three main things: they provide and summarize the business’ financial records, assist potential investors and creditors, and help inform ownership for future decisions. Understand Your Business Operations Each component of your financial statement can reveal important insight about your company’s financial situation. Income statements help visualize profitability, expenses, and net profits / losses. Balances sheets inform shareholders of the current state of the business – with regards to assets, liabilities, and equity. Retained earnings detail overall profit distribution, while cash flow statements illustrate the available cash on hand to pay essential and reoccurring expenses. Guide Credit & Investment Decisions High-quality, professional financial statements are crucial to your overall success. Credit lenders use your financial statements to assess your eligibility for additional credit. Investors use these statements to help decide whether they should invest in your company, and how much they should invest. Potential buyers will even use your financial statements to help set price offers for your company. Our Poconos CPAs have years of experience preparing financial statements for small businesses and corporations. Adjust Your Strategy For Future Success Financial statements help you see where your company is succeeding, as well as which areas need improvement. The team at Weseloh Carney & Company LLC can help prepare your financial statements to give shareholders, management, and employees the necessary data to make key decisions going forward.