Financial Statement Preparation
For business purposes, a financial statement consists of all the relevant financial information, presented in a structured manner and in a form easy to understand. Financial Statements always include a statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows. For large corporations, these statements are often complex and may include an extensive set of notes to the financial statements and an explanation of financial policies and management discussion and analysis.
The preparation of financial statements is one of the final steps in the accounting cycle, which can help to measure the success of business operations over a period of time. Financial reporting is focused on providing entities with useful financial information about a company.
For business partners, managers, prospective investors and lenders, the preparation of the financial statement is vital as it is often used to assist them to facilitate future economic decisions and evaluate the financial condition of the company. The utmost care and attention should be taken to ensure that all information in the financial statements is reliable and presented in a concise and structured manner. If ill-prepared with incorrect information or incoherently published, the financial statement could affect investors’ trust and consequently impact the funding of that business or impact the investors themselves who are crucial to the economic system. Bankers, suppliers or investors may also request statements and use the financial information to create different ratios.
How can LehmanBrown Can Financial Statement Preparation?
At LehmanBrown, we combine years of accounting experience with adequate resources for carrying out business in China. Our highly qualified accountants can provide reliable and accurate GAAP and IFRS-compliant Financial Statements of income, retained earnings, balance, owner equity and cash flow, composed using information from the accounting journal and the general ledger.
Therefore, outsourcing to LehmanBrown will ensure that your enterprise’s financial statement is to the highest standard and contains all the required information.
To make an enquiry or to learn more about the Financial Statement Preparation Services in China that LehmanBrown offer, please contact us at email@example.com.