Reporting on the financial performance of your business should give you more value than just recording and reporting on your past performance to satisfy the ATO and ASIC.
At Wallace Partners we use your financial statements to help you better understand your business performance and how to improve on it, along with of course how to read the statements we believe a meeting with us to discuss your businesss financial performance after your financial statements are prepared is an imperative part of the value we add to our clients businesses. Thats why every business client of Wallace Partners, on the completion of their annual financial statements takes advantage of an annual complimentary appointment to discuss their business!
The reports included in Special Purpose Financial Statements generally include:
- Balance Sheet (which shows the assets and liabilities of an entity)
- Profit & Loss Statement (which shows details of income and expenses for the period)
- Depreciation Schedule
- Compilation Report
- Trustee or Directors Declaration
- Notes to the Financial Statements
We prepare financial statements for all types of entities including:
- Sole Traders or Individuals