One effective way to know how a well a small business is performing is by looking at its financial statements. These important documents are designed to offer a detailed overview of revenue, cash flow, and the company’s overall fiscal health. Cheryl Hawkins Tax and Accounting in Jordan, MN, prepares comprehensive financial statements for businesses from a wide range of sectors. It’s one of the reasons why clients continue to return to the firm year after year for professional accounting services.

There are several key reasons why a business should maintain current and accurate financial statements. Here are a few of them:

• Monitor Cash Flow: Keeping track of the cash transactions between a company and third parties shows how much money is on hand to pay for expenses and other purchases. Within a cash flow statement are items such as investments and financing from creditors. All of the information helps prevent overspending and lets you plan for any future purchases.
• Provide Overall Condition: From outstanding debt and equity to profits and assets, financial statements also provide a thorough overview of a company’s financial condition. Lenders, investors, and other interested parties want to see the details before granting loans, lines of credit, and other funds.
• Track Historical Data: Financial statements offer historical data going back several years to show gains and losses, inventory purchases, and other expenditures. Being able to review financials broken down by monthly, quarterly, and annual time periods helps show if adjustments are needed to accommodate seasonal and economic changes.

With more than 20 years of professional tax preparation experience, Cheryl Hawkins, CPA and founder of Cheryl Hawkins Tax and Accounting, has provided small businesses and non-profits with impeccable financial statements. She is always 100% committed to ensuring clients have accurate documentation that is compliant with local, state, and federal tax authorities. Her expertise and personalized approach are why customers remain loyal to her.

If your business is in need of financial statement preparation, Cheryl Hawkins Tax and Accounting is your trusted source. For a free consultation, call (952) 222-8272 today. Visit the website to learn about additional accounting services to help your company grow and thrive.