Execute & Interpret Financial Reports

Financial reporting is compliance oriented and is used for external purposes. It encompasses the standard weekly, monthly and quarterly reports that companies receive each month which include:

•  Profit and Loss Statement
•  Balance Sheet
•  Trial Balance

These reports are mandatory for all businesses. HMRC, Banks, investors and regulators use these reports to approve loans, lines of credits and to make sure you are following GAAP (Generally Accepted Accounting Principles).

These reports reflect the financial standing of your business at a specific point in time. They show the overall picture of how your company is performing but don’t give you real insight into the specifics of your operations. They look backward and don’t really inform you on how the business might perform next month or next quarter. 

For this reason Analytics provide the necessary information to give you the information at hand to take your business forward.