If you’re involved in money management for your company, you’ve probably heard about financial reporting once or twice. But what exactly does this mean? What is covered in the process? A CPA near you can help clear up the concept and give you guidance. Here are some basic facts on financial reporting from Martinson & Carter CPAs.

What is financial reporting?

Financial reporting is the basic process of pulling together important financial documents. In general, a financial report may include things like finance statements, cash flow updates, quarterly reports, income statements, stockholders’ statements, annual reports, and federal financial reports. (Depending on your business, there may be additional items that are included – or fewer.) The process includes all areas that concern your company’s finances. It also serves as another way for you to manage your business’s financial paper trail. At the same time, these reports give you the chance to spot problem areas or areas where you’re meeting your financial goals. Examining this data will better help you manage your money and so your business will continue to succeed.

How can a CPA help?

CPAs are well-versed in working through the financial reporting process. Your CPA will review your company’s financial information on a regular basis. As with most financial matters, you probably shouldn’t try to do it on your own. Working with a CPA near you is almost always in your best interests. Accountants have the experience necessary to work through financial reports accurately and in a timely manner.

Don’t wait to get the professional accounting services you need for your business. Avoid mistakes that can lead to financial difficulties by calling CPA near you in Rock Hill or Fort Mill, SC. Martinson & Carter CPAs are here to help. Discover how we can help you with financial reports for your company.