Financial statement preparation service

Would you like to take stock of your accounting situation? Our professional accountants and certified tax specialists are there to prepare your company’s financial and notice-to-reader statements.

Obtain precise data on your finances in order to better plan your activities’ continuation.  Financial statements provide an update on your results, changes in equity, financial position, and cash flow.

Learn more about this service from our accounting firm in Montreal.

Financial Statements, EB Conseil Fiscal

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Financial Statement

The Financial Statement: A Complete Balance Sheet of Your Finances

A financial statement is an accounting document that gives precise information about the situation of your business. This information allows the reader to:

  • Conduct precise analyses;
  • Make comparisons over time;
  • Evaluate your results against other companies in the same field;
  • Make decisions related to the business of the company.

The financial statement prepared by a CPA is still commonly called a balance sheet. The balance sheet is a financial document that summarizes the transactions for a period related to the assets and obligations of the company. This balance sheet, therefore, makes it possible to have a financial vision for the company and to better understand its assets at a given date.

A financial statement is also a communication tool that allows you to justify the solvency of your business to creditors and other partners.

The Income Statement

The income statement (or profit and loss statement) is a financial statement that takes stock of the income and expenses incurred during the year. More elaborate than your bookkeeping, it provides you with tools and indicators to ensure the good continuity and management of your business.

As an entrepreneur, the income statement will provide you with the following information:

  • The company’s ability to self-finance over the long term;
  • Possibility of breaking even (where profit is equal to zero, neither profit nor loss);
  • The company’s net margin of the company on sales;
  • Tax payable owed by the company.

Your financial report is made up of several elements providing you with precise data on your situation:

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Statement of Retained Earnings

The financial statement also includes what is called “retained earnings”. Also known as “changes”, retained earnings correspond to variations in shareholders’ equity during the period.

The statement of changes will therefore indicate the share of profit remaining after paying direct and indirect costs, taxes, and dividends to shareholders.

When the financial period ends with a profit (statement of income), the latter is then added to the capital of the beginning (statement of changes in equity). This gives you the capital balance at the end of the period. This balance will then be presented in the balance sheets’ equity section.

Cash Flow

The cash flow statement is part of the complete set of financial statements that an entity must present.

This part of the report includes an analytical financing table. This quantifies cash flow over a specified period. It is divided into 3 streams of activities, namely:

  • Operation (also called operational flow);
  • Funding;
  • Investment.

It reflects the impact of investment and financing decisions on operating cash flow. It also provides an idea of the organization’s solvency.

This management tool makes it possible to monitor cash and understand the company’s operating expenses and spending habits. This financial statement is also essential to prove the company’s ability to meet its commitments to these creditors.

Finally, the cash flow statement provides information on the company’s investment activities and operational financing activities between financial statements.

Financial Statements, EB Conseil Fiscal
A Report to Consolidate Your Partnerships

With your balance sheet in hand, you have the data you need to understand your company’s financial situation. In addition to supporting you in your strategic thinking, the financial statement is also relevant for your potential investors!

You will find in particular:

  • Operating activities: which include the variations in cash flows contained in the company’s income statement;
  • Investment activities: which relate to flows related to purchases or sales of assets over the long term;
  • Cash flows related to financing: which correspond to the sums granted by financing companies.

This last category also shows the instalments you have made to repay lenders. Therefore, it not only provides information on the amounts received from your creditors, but also on the payments you make to repay them.

This is crucial information for future investors. Indeed, they will want to know if the company is financeable, but also if it is able to meet its loan repayment commitments.


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Entrust the Preparation of Your Financial Statements to Experts

Would you like to take stock of your company’s financial situation?

Take advantage of our accounting services to have your financial statements prepared. Our experts prepare the full balance sheet to ensure sound management of your finances and consolidate your reliability with investors. During the final presentation of the financial statements, you will then have valuable information in hand on your company’s financial management.

Financial Statements