Financial Statement Preparation in Oak Park
Your financial statement is crucial to your economic well-being. Merritt Financial Services, LLC can assist in preparing your financial statement so that you can better monitor your cash flow, protect your investments, and stay fiscally responsible.
Whether your purpose is commercial or personal, starting the financial statement process can be difficult. People who have the most difficulty are those who have several expenses and investments. Our specialists can help prepare and analyze your financial statements so that you can be confident in your next transaction.
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Preparing Your Financial Statements with Merritt Financial Services, LLC
We start our preparation process by determining your trial balance: the money earned versus the money expended. After that, we can better understand your cash flow and provide a custom statement for your ledger accounts. We are also proficient in several accounting software systems so we can help you digitalize your financial statements, making it easier to access and update them.
A consolidated financial statement, like the ones we develop, comes with numerous benefits. The most significant is a better understanding of your financial condition. Our existing clients have sought our services in order to resolve a variety of problems, including:
- Investment advice
- Tax preparation
- Proof of financial responsibility
Financial Statement Analysis
Once we have provided you with a financial statement, our experts can explain the details within it. We walk you through every inch of it, pointing out problem areas and providing constructive feedback on how to can improve your financial situation. If you’ve had a financial statement done by someone else—or have done it yourself and want a second opinion—we will be happy to provide our input.
Personal Financial Statements
Despite most financial statements containing the same principle of evaluating assets and liabilities, everyone is different. We make custom financial statements, each tailored according to the client’s unique circumstances.
Here are a few things you’ll notice on a personal financial statement:
Balances in the accounts of:
Liabilities such as:
- Unpaid taxes
- Credit card balances
- Car loans
By providing this information in a single report, we help you understand the full details of your financial condition. We allow you to see your finances with clarity and transparency. And in the process, we help you take control of your financial situation.
Statement of Financial Position
A statement of financial position (also called the balance sheet) is a specific type of financial statement, which reports a company’s assets, equity, and liabilities at a given period of time. Upon request, our experts are available to draft a statement so that you can see what type of financial position you are in. Doing so will allow you to evaluate your spending habits and restructure the way you are investing in order to meet your financial goals.
A professionally conducted financial statement can also open doors to potential investors for a company or banks and loan authorities as it is concrete proof that you are financially responsible will gain you more trust.
If your statement comes back with a high net worth deficit, this could mean that you need to apply for bankruptcy protection. We have experience working with those filing for bankruptcy and have helped many people get back on their feet. Whatever the outcome of your financial statement, we will be here to help.
Contact the Best Financial Statement Preparation Services in Oak Park
Contact Merritt Financial Services, LLC for more information on financial statement preparation and how we can help you. Call (248) 461-7572.