Financial Statement Preparation

Preparation of Core Financial Statements:

Profit and Loss Statement (Income Statement): Summarising revenues, costs, and expenses to show the company’s profitability over a specific period.
Balance Sheet: Providing a snapshot of the company’s financial position, including assets, liabilities, and equity at a specific date.
Cash Flow Statement: Detailing cash inflows and outflows from operating, investing, and financing activities.

Compliance with Accounting Standards:

Ensuring that financial statements are prepared in accordance with UK Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), as applicable.

Year-End Adjustments:

Making necessary adjustments for accruals, prepayments, depreciation, and other end-of-year accounting entries to ensure accurate financial reporting.

Consolidated Financial Statements:

Preparing consolidated accounts for groups of companies, combining the financials of parent and subsidiary entities into a single set of statements.

Management Accounts:

Preparing monthly or quarterly financial statements for internal use by management, providing insights into financial performance and helping in decision-making.