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PrairieVista Tax Services Inc.

Tax Preparation Services, Bookkeeping Services and Small Business Tax Consultant

Financial Statement Preparation

Starting your financial statement can be complicated if you have many expenses and investments. Preparing your financial statements is one of the most essential steps in the accounting process. PrairieVista Tax Services Inc. can assist you with the order of preparation. I have several years of experience in financial statement preparation and analysis, meaning that you can be confident that I will do the job right.

Contact PrairieVista Tax Services Inc. now at (780) 469-3532 to get started.

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Located in Edmonton servicing Edmonton, Sherwood Park and Leduc

Comprehensive Financial Statement Preparation

Your statements provide a comprehensive collection of your current financial performance. With consultation and preparation services, I will put all your necessary statements together. You will experience peace of mind knowing that your statements have been prepared by a company that not only conforms to all policies but one that has several years of practice.

Clear Financial Statements Prepared by PrairieVista Tax Services Inc.

Financial statement preparation is the heart of accounting. It is the process of taking all sources of your cash and organizing them in a way that will make sense. A clear and precise statement will make it easier to do the following:

  • Identify areas of overspending
  • Identify areas of underspending
  • Budget
  • Related tax preparation services
  • Prove financial responsibility

Financial Statement Analysis

After your financial statement has been produced, I will be ready to analyze and identify potential problem areas as well as areas needing improvement.

Personal Financial Statement

A personal financial statement is quite different from one that a company would have, which is why it's necessary to make custom templates for each client. Essentially, both a company and an individual's financial statement follow the same concept: break down assets and liabilities. There are also some complex rules regarding what should go on your personal statement and what should not. For example, rent or a lease should not be on your personal financial statement because you do not own it. But you can put jewelry under your personal property. On a personal statement you'll see categories such as the following:

Under assets, you'll see balances such as:

  • Checking accounts
  • Savings accounts
  • Retirement accounts
  • Trading accounts

Under liabilities, you'll see balances such as:

  • Personal loans
  • Unpaid taxes
  • Mortgages
  • Credit card balances
  • Car loans

Statement of Financial Position

After creating a financial statement, I will be able to perform a financial statement analysis. This is done by adding all your assets and subtracting all of your debts. This will show your financial position.

If your debts are more than your assets, then you will have a negative net worth. If this is the case, I can help guide you in the right direction to financial recovery. I can help you through every step of the process, from financial reporting to tax preparation services and beyond.

Contact Us for a Financial Statement Preparation Consultation

Contact PrairieVista Tax Services Inc. to set up a consultation today! I'm waiting to hear from you.

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