The ultimate purpose of any accounting and bookkeeping system is financial reporting, and this is crucial for stakeholders to evaluate operations and for decisions making, planning, and forecasting. Financial reporting varies from preparation of standard Financial Statements as per International Financial Reporting Standards (IFRS) or IFRS for SME to the tailored financial reports depending on specific requirement of stakeholders. We at Virtual Accountants LLC can assist you with both Financial Statements and tailor-made financial reporting requirement.
Standard Financial Statements includes Balance Sheet (Statement of Financial Position) and Income Statement (Statement of Financial Performance), Cash flow statement and Statement of changes in equity and notes to the Financial Statements. These financial statements are prepared periodically but at least annually and can be requirement of different stakeholders including Management, Shareholders, Tax authorities, Prospective Investors, Bankers, and Regulators etc. Based on bookkeeping, we can prepare Financial Statements as per requirement of applicable financial reporting framework.
In addition to preparation of financial statements, we can offer tailored made financial reporting service as per the requirement of management. These professionally presented customized financial reports can includes but are not limited to sales reports and trend analysis, performance indicator, ratio analysis, spend analysis, analysis of cashflow and relevant recommendations.