Financial💰Your business is doing pretty excellently lately…perhaps this is where the closing of financial statements become vital and need attention!
🔎Looking at your end-of-period financial statements makes you understand the overall health and direction of your business, and to take a proper course of actions accordingly.
👱♂️As the business owner, here’s what you can benefit from carefully observing the closing of your financial statements:
✅You will be able to see the overall picture of the business reflected in numbers. Those are real profits, losses, assets, and debts of yours in any given quarter or year.
✅By understanding this holistic view, you can utilize that to analyze and devise a sound business strategy for the upcoming quarters; or to inform yourself whether or not to make more investment decisions.
✅It is a normal practice for a business to ‘close the statements’ at the end of year. So, if you could prepare and consolidate all accounting information for your auditors to work on in advance, then your business could keep running smoothly and seamlessly, with no interruptions.
✅Dividends to shareholders are attractive—they make your business look more trustworthy in the eyes of investors. You can study your (closing) financial statements to decide on dividends distribution and, in turn, attract more investment and partnership opportunities your way.
👩💻 Here at Actio Consultancy, we provide you with highly experienced accountant and financial auditors, to help you business operate better and thrive in a competitive environment.