At Serita Lombard, CPA, we focus on building close client relationships that add long-term value to both parties; this includes working hard to steer you, our valued client, to your goals with accurate record-keeping and reporting and support on financial issues such as cost-containment, tax planning, investments, and other plans. While we already talked about our tax preparation service in one of our previous articles, here, we will let you know what our annual balance reports include. If you have any questions, feel free to come by our office in Dallas, GA for a consultation or call us now.
The accounting balance sheet is one of the major financial statements used by our tax preparation experts and clients. The documents are also known as a statement of financial position. The sheet presents a business’ financial position at the end of a specific date, in this particular case, we speak of the end of the day. These documents inform the reader of a business’ financial position as of one moment in time, and it allows you to see what a company owns and what it owes to other parties as of the date indicated in the heading.
The information in the balance sheet can be valuable to bankers who want to determine whether or not a business qualifies for additional credit or loans. Others who would be interested in this type of tax preparation service are investors, potential investors, company management, suppliers, competitors, government agencies, labor unions, and some customers. The document has a few components, including assets, liabilities, and owners’ equity.
The assets are all the things the business owns, including cash, petty cash, temporary investments, accounts receivable, inventory, supplies, prepaid insurance, land, land improvements, buildings, equipment, and even goodwill. The liabilities and owner’s equity can be current liabilities, long-term liabilities, and more. For the full list of details, please contact our experts in Dallas, GA for a consultation. They will be happy to go over everything you need to know so you are well informed about this type of service before hiring our company as a partner.
Call us Whenever You Need Our Tax Preparation Services!
For many years now, we, at Serita Lombard, CPA, have been proudly setting the standards for honest and very professional services in this field of work. If you are a business owner or an investor who looks to do business with a trustworthy expert, then we might be the right company for you. Call us at (770) 443-5437 to schedule an appointment for a meeting with our representatives. They will be happy to see you soon.