Financial Statements (IFRS) & Reporting

To monitor and analyze the financial position of your business, you need to have financial statements such as the balance sheet, profit & loss report, and cash flow statement. These reports are used internally to make future decisions and externally by lenders, creditors, or investors to evaluate your business's performance and health.

The balance sheet reveals everything that a company owns (assets) and owes (liabilities) along with the owners' equity. It demonstrates how a company utilizes its assets and reveals the overall health of your business at a specific point in time. The profit & loss report, also known as an income statement, focuses on the revenues earned and expenses incurred during a set period, revealing the company's ability to generate revenues and manage costs. The cash flow statement shows increases and decreases in cash during a specific timeframe and differentiates between changes in cash due to operating, financing, or investing activities.

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Management Reporting

Apart from financial statements, management reports should be reviewed monthly to make better use of relevant financial data. These reports are crucial in decision-making and are created for both the director and the hands-on business owner or CFO to understand the position and performance of the business.

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Investor Reporting

Investors have different reporting requirements, with some wanting financial information completed on their in-house templates while others want high-level information and forecasting. Consistent financial reporting can be established for investors to answer their detailed questions.​