Financial Statements for Businesses in El Paso
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Clifford, Ross, Raudenbush & Cooper, LLC, can prepare or supervise the preparation of your financial statements. Compiled, reviewed, or audited statements can be provided according to your needs. More importantly, we can help you use these statements, as well as other reports, to better manage your business and increase your profitability. Give us a call today to learn more about our services.
Why Accurate Financial Records Matter
Good financial records are necessary for several reasons, including:
Preparing Financial Reports Monthly
For year-to-date comparisons and to make quick management decisions, financial reports must be done monthly. Think of the saying, “As goes the month, so goes the year.” You can compare the sales, gross profit, and net profit at, say, the end of May, with prior years and get a good idea of how the current year will finish. You can also compare the total accounts receivable or payables with prior years to spot problems and then quickly take corrective action.
Common Business Ratios to Keep in Mind
Here are some common business ratios you should monitor on a month-by-month and a year-by-year basis:
We’re Here to Help Your Business Achieve Success
If you would like to learn more about using financial statements to make sound business decisions, we would be happy to assist you. No one was born with an understanding of financial information, but it is easier to learn than most people think.
Please ask as many questions as you like; we will help you until you are comfortable with business numbers and can use yours to increase your profitability.