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FINANCIAL STATEMENT PREPARATION

Financial Statement Preparation

Starting your financial statement can be complicated if you have many expenses and investments. Preparing your financial statements is one of the most essential steps in the accounting process. With the help of Techmark Multi-Services Inc., we can assist you with the order of preparation. We have several years of experience in financial statement preparation and analysis, meaning that you can be confident that we will do the job right.

Personal Financial Statement

A personal financial statement is quite different from one that a company would have, which is why we make custom templates for each client. Essentially, both a company and an individual’s financial statement follow the same concept: break down assets and liabilities. There are also some complex rules regarding what should go on your personal statement and what should not. For example, rent or a lease should not be on your personal financial statement because you do not own it. But you can put jewelry under your personal property. On a personal statement you’ll see categories such as the following:

Under assets, you’ll see balances such as:

Checking accounts
Savings accounts
Retirement accounts
Trading accounts

Under liabilities, you’ll see balances such as:

Personal loans
Unpaid taxes
Mortgages
Credit card balances
Car loans

Comprehensive Financial Statement Preparation

Your statements provide a comprehensive collection of your current financial performance. With our consultation and preparation services, we will put all your necessary statements together. You will experience peace of mind knowing that your statements have been prepared by a company that not only conforms to all policies but one that has several years of practice.

Clear Financial Statements Prepared by Techmark Multi-Services Inc.

Financial statement preparation is the heart of accounting. It is the process of taking all sources of your cash flow and organizing them in a way that will make sense. A clear and precise statement will make it easier to do the following:

Identify areas of overspending
Identify areas of underspending
Budget
Related tax preparation services
Prove financial responsibility

Financial Statement Analysis

After your financial statement has been produced, our specialists will be able to analyze it and identify potential problem areas as well as areas needing improvement. If you already have a financial statement, we gladly offer an analysis that will help you with your transactions.

Statement of Financial Position

After creating a financial statement, one of our accounting experts will be able to perform a financial statement analysis. This is done by adding all of your assets and subtracting all of your debts. This will show your financial position.

If your debts are more than your assets, then you will have a negative net worth. If this is the case, we can help guide you in the right direction to financial recovery. Our team is here to help you through every step of the process, from financial reporting to tax preparation services and beyond.

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