Maybe you don’t plan on doing your annual audit until mid-year. Or year-end. Maybe you plan to delay it until the last possible second. It doesn’t matter. (Well, it does, up-to-date financial statements make a great impression on potential investors. But I digress.) Now is the time to start to get your audit stuff together. …
So, those of you who grew up with Sesame Street might remember the classic sketch “Who are the People in Your Neighborhood”, in which friendly Sesame Street adults took us on a musical tour of the neighborhood, and introduced us to local professions. We met teachers, librarians, nurses and the like. We never met accountants. …
Who Are the People in Your (Finance) Neighborhood Read More »
Today, we are going to talk about one of the most important reports, a report all of your potential investors will want to see and pore over. The statement that answers the question: are you making money or are you losing money? What statement is this? Statement of Profit & Loss. Or something else. Like …
Black is always the New Black (Statements of Operations/ Income Statements) Read More »
So, I’m sitting here, trying to write an article about the statement of operations and some other bits and pieces making up your audited financial statements . It’s audit season, I’ve got financial statements on the brain and don’t see any reason why you shouldn’t as well. And I’m writing stuff like “earnings over the period” …
Timing is Everything (in Your Financial Statements) Read More »
For the last month or so, it’s been annual audit season at work. Preparing for the audit, sending materials to the auditors, actually going through the audit and so on. Now that the audit part of the audit is finally pretty much done, I’m turning to the next stage: writing up the financial statements. I’ll …
A small collection of accounting jargon translation….
You are biased, and therefore not to be trusted. Okay, that was a bit cruel and perhaps not entirely true in your particular case (I hope!). But when talking about a company’s management or officers and financial reporting it is a rule to live by. Hence, the need for annual audits and the resulting …
What are Audited Financial Statements and Auditor’s Opinions Read More »
