Review Our Brisbane Location
on Google Plus

Review Our Gold Coast Location
on Google Plus

Financial Statements

After any adjusting entries have been made or entered into a worksheet, your financial statements can be prepared using information from the ledger accounts. Because some of your financial statements use data from the other statements, here is a logical order for their preparation:

financial statements
  • Income Statement
    • The income statement reports all revenues and expenses, and provides you with the resulting net income. It is prepared by transferring the following ledger account balances, taking into account any adjusting entries that have been or are still to be made:
      • Revenue
      • Expenses
      • Capital gains or losses
  • Statement of Retained Earnings
    • The retained earnings financial statement will give you the retained earnings at the beginning and end of the accounting period. This statement can be prepared by using the following information:
      • Beginning retained earnings, taken from your previous statement of retained earnings.
      • Net income, this figure can be taken from your income statement
      • Dividends paid during the accounting period
  • Balance Sheet
    • The balance sheet reports the assets, liabilities, and shareholder equity of your company. It is constructed using the following information:
      • Balances of all asset accounts such cash, accounts receivable, etc.
      • Balances of all liability accounts such as accounts payable, notes, etc.
      • Capital stock balance
      • Retained earnings, obtained from the statement of retained earnings
  • Cash Flow Statement
    • The cash flow statement explains any reasons for changes in your cash balance. It should show the sources and uses of cash in all of your operating, financing, and investing activities. This financial statement is a cash-basis report, which means it cannot be taken directly from the ledger account balances of an accrual accounting system. You will have to convert your accrual information to a cash-basis using one of the following two methods:
      • Direct method: cash flow information is derived by directly subtracting cash disbursements from cash receipts.
      • Indirect method: cash flow information is derived by adding or subtracting non-cash items from net income.

Sound confusing and time consuming? IT IS! Why not leave the hard work to the professionals who understand the quickest and most reliable way to prepare your financial statements.

Our experienced Gold Coast team can relieve you of the nightmare of reporting and recording information, and our accuracy is guaranteed. Wherever you are in Australia (or overseas), our experts can make sure your accounting needs are our priority. We make a point of regular contact, either by visiting in person if you are on the Gold Coast or in Brisbane, or via skype, Viber, emails etc for those outside our local area.

Testimtesti-semicloneonials

home-form-shadow

Review Our Brisbane Location on Google Plus

Review Our Gold Coast Location on Google Plus

Marketing Brisbane Brand Marketing Marketing Strategy Marketing Analytics Mobile Marketing Social Media Marketing B2B Marketing B2C Marketing Digital Marketing Content Marketing Email Marketing SEO Brisbane AdWords Management Facebook Advertising SEO Content Writing First Page of Google What is SEO What is Organic SEO One Page Websites Business Websites Ecommerce Websites SEO Pricing Facebook Pricing Email Marketing Pricing Free SEO Audit SEO Content Business Web Development SEO Brisbane Start A Business 2020 Grow Your Business Online Dominate The Market With SEO Online Marketing FAQs Social Media Marketing Brisbane SEO Brisbane SEO Geebung SEO Brendale SEO Banyo SEO North Lakes SEO Strathpine SEO Eagle Farm SEO North Brisbane SEO South Brisbane SEO West Brisbane SEO East Brisbane SEO Moorooka SEO Coopers Plains SEO Sunnybank SEO Springwood SEO Underwood SEO Slacks Creek SEO Logan Pay Per Click Advertising AdWords FAQs Content Writing FAQs Business Directory SEO Services & Digital Marketing Brisbane Marketing and SEO Brisbane SEO Brisbane Organic SEO Brisbane Google Ads Brisbane Local SEO Brisbane Social Media Brisbane SEO Services Brisbane SEO Consultant Brisbane SEO Company Brisbane SEO Brisbane Website Design Brisbane Website Developers Brisbane Website Designers Brisbane Website Developer Brisbane Website Development Brisbane Website Design Brisbane Website Designing Brisbane Cheap Website Design Brisbane eCommerce Website Design Brisbane SEO Website Brisbane Personal Website Design Brisbane Business Website Design Brisbane Entertainment Website Design Brisbane Portfolio Website Design Brisbane Non-Profit Website Design Brisbane Web Portal Website Design Brisbane Infopreneur Website Design Brisbane Educational Website Design Brisbane Brochure Website Design Brisbane SEO Consultant Brisbane SEO Services Brisbane SEO Services Gold Coast SEO Services Sunshine Coast SEO Services Sydney SEO Services Melbourne SEO Services Adelaide SEO Services Perth SEO Services Hobart SEO Services Canberra SEO Services Darwin A Frames Vinyl Banners Rectangle Flags Flyers Digital Print on ACM Sign Mesh Banners Lightboxes Window Graphics Wall Signage Parking Signs Illuminated Signs Digital Print on ACM Sign Car Wraps Car Magnets Stickers and Decals Custom Stickers NCR Booklets Envelopes Calendars Desk Pads Postcards Presentation Folders Letterhead Graphic Design Service Sign Installation Magnets Floor Graphics Large Format Stickers Acrylic Panel Signs Premium Pull-Up Banners Premium Business Cards PVC Plastic Business Cards Signage Signage Brisbane Building Signage Window Signage Signage Design Signage Installation Signage Printing Government Signage Transport and Main Roads Signage Tenders Signage Public Sector Signage Hospital Signage School Signage Medical Centre Signage Police Fire and Rescue Signage PCYC Signage Car Signage Signwriters Printing Printing Brisbane Government Printing Transport and Main Roads Printing Hospital Printing School Printing Medical Centre Printing Police Fire and Rescue Printing PCYC Printing Public Sector Printing Billboard and Signage Printing A Frame Printing Flags and Banner Printing Sticker Printing Display and Exhibition Printing Promotions and Events Printing Display Solutions Exhibition Display Stands Tradeshow Printing Flyer Design Business Card Printing Logo Design Car Wraps Commercial Wraps Van Wraps Ute Wraps Boat Wraps Trailer Wraps Van Wraps Full Car Wraps Partial Car Wraps Colour Change Wraps Carbon Fibre Wraps Paint Protection Wraps Window Wraps Trailer Wraps Wall Wraps Food Truck Wraps Printing Brisbane Car Wraps Gold Coast Car Wraps Sunshine Coast Car Wraps Brisbane Signage Brisbane Signage Gold Coast Signage Sunshine Coast Donate Now Donate To Qld Hospitals Donate To NSW Hospitals Donate To Vic Hospitals Donate To SA Hospitals Donate To WA Hospitals Donate To Tas Hospitals Donate To ACT Hospitals Donate To NT Hospitals Become A Corporate Ally Become A Wonder Worker Charity Fundraising Host A Fundraiser Leave A Bequest Critical Equipment Charities Best Charities To Donate To Kids Charity Australian Charities Queensland Charities Brisbane Charities New South Wales Charities Adelaide Charities South Australia Charities Melbourne Charities Victoria Charities Sydney Charities Western Australia Charities Perth Charities Tasmania Charities Hobart Charities Darwin Charities Northern Territory Charities Canberra Charities Australian Capital Territory Charities Australian Capital Territory Charities Australia Tradies Brisbane Commercial Brisbane Residential Buy Australian Services Buy From Australia Commercial Services Australia Commercial Services Brisbane Domestic Service Australia Domestic Service Queensland Local Business Queensland Residential Services Australia Residential Services Brisbane Seek Brisbane Tradies Brisbane Tradies Brisbane Queensland