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Book-Keeping and Financial Reporting

This includes the assistance in preparation, review of accounts and the preparation of financial statements.

It encompasses a wide area ranging from simple Book keeping to complex financial analysis.

Objectives of Financial Reporting

Financial Reporting cover three areas, dealing with

  • Provide useful information to the users of financial reports. The information should be useful from a number of perspectives, such as whether to provide credit to a customer, whether to lend to a borrower, and whether to invest in a business.
  • Provide Cash flows Information is to provide information about the cash flows to which an entity is subjected, including the timing and uncertainty of cash flows. This information is critical for determining the liquidity of a business, which in turn can be used to evaluate whether an organization can continue as a going concern.
  • Provide Liabilities and Economic Resources Information is to disclose the obligations and economic resources of an entity. There should be an emphasis on the changes in liabilities and resources, which can be used to predict future cash flows.
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Purpose of Financial Reporting

Financial reporting aims to track, analyze and report your business income. This helps us and any investors make informed decisions about how to manage the business. These reports examine resource usage and cash flow to assess the financial health of the business.