Financial Statement Cleanup & Analysis
Can Help Businesses Control Their Budgets
Utilizing financial statement analysis proves invaluable for businesses, guiding them in making informed fiscal decisions. Whether evaluating straightforward projects for potential returns or navigating complex decisions such as acquisitions, financial statement analysis is a versatile tool.
With expertise in various forms of financial statement analysis, JHG Accounting Firm, LLC stands ready to assist small businesses in forecasting their financial futures.
Financial Statement Catchup & Cleanup
Maintaining clean and accurate financials is essential for any business aiming to grow, secure funding, or simply understand its financial position. Whether you’re catching up after falling behind, preparing for tax filings, or addressing inconsistencies, financial cleanup is the first step. Our team specializes in bringing books current and reliable through a structured cleanup and analysis process.
- Review and Reconcile Bank, Credit Card, and Loan Accounts
- Identify and Correct Misclassified Transactions
- Clear Undeposited Funds and Aging Balances
- Recode Interest, Prepaids, and Accruals Accurately
- Ensure Balance Sheet and Income Statement Alignment
- Deliver GAAP-Compliant, Clean Financial Reports
Three Advantages of Financial Statement Cleanup
Delving into the realms of financial analysis unveils a multitude of reasons why both businesses and families turn to this essential tool to achieve their diverse personal and strategic aspirations. Three notable motivations encompass:
1. Uncover Past Errors and Inconsistencies
Outdated or misclassified financial data can distort the true health of your business. Our cleanup services review historical records, reconcile discrepancies, and correct coding issues to ensure accuracy and compliance with GAAP standards.
2. Gain Clear, Actionable Insights
Once your books are cleaned and current, we dive into your financial statements to identify trends, strengths, and red flags. This analysis helps uncover opportunities for cost savings, improves cash flow visibility, and supports better planning.
3. Prepare for Growth, Funding, or Transitions
Clean and reliable financials position your business for its next step—whether that’s applying for a loan, onboarding new investors, or preparing for a transition. We ensure your records are presentation-ready and aligned with professional expectations.
Financial Analysis Services for Small Companies
Financial analysis is a proven tool for small businesses, offering valuable insights for planning purposes. We provide tailored financial analysis services for small businesses, which typically include the following:
Financial Statement Analysis
A vital financial tool for small businesses, the balance sheet offers a comprehensive overview of the company’s current financial position. By detailing assets, including liabilities such as payroll, rent, utilities, and debts to suppliers, the balance sheet calculates the company’s net value and shareholder equity. This high-level snapshot serves as a crucial reference for assessing financial health and making informed strategic decisions.
Income statements, prepared on a monthly, quarterly and annual basis, meticulously outline a company’s earnings during a specific timeframe. Featuring key components such as operating expenses, depreciation, earnings per share (EPS), and net income, these subcategories provide valuable insights for investors seeking to evaluate a company’s recent performance. An essential financial document, the income statement is instrumental in gauging profitability and financial viability.
The cash flow statement analyzes the inflow and outflow of cash within a company, offering insights into its performance in the short and long term. It encompasses operating, investing, and financing activities, providing a comprehensive view of how effectively a company manages its cash resources.
The shareholders’ equity statement provides a comprehensive breakdown of any alterations in the equity ownership held by shareholders. This statement illuminates changes, ensuring transparency and a clear understanding of how shareholder equity has evolved within the company.
Department Budget Creation & Tracking
Within the realm of department budgeting, JHG Accounting Firm, LLC works closely with clients to build structured, trackable budgets tailored to each department’s unique needs. We analyze revenue, spending, and cost allocations to ensure accurate planning and financial alignment across the organization.
If variances arise, we identify areas for realignment, address underfunded departments, and suggest adjustments to support financial goals and operational priorities.
In addition to department-level planning, we offer tracking tools and reporting that compare actual results to budgeted figures—empowering small businesses to maintain control, improve accountability, and respond to changes with confidence.
Cash Flow Management
Our cash flow management services are strategically crafted to ensure that your company consistently generates more cash inflows than outflows. The financial well-being of your business is intricately tied to the efficient circulation of cash, making vigilant monitoring essential.
Through our cash flow management services, we diligently track inflows and outflows, proactively identifying potential cash shortfalls. Upon detection, our team collaborates with yours to develop plans that prevent or mitigate these shortfalls. Furthermore, we assess your cash flow in relation to future budgeting requirements, empowering your company to advance its strategic goals without the hindrance of suboptimal cash flow.