There are specific guidelines to follow when preparing financial reports for a business or company, be it they are required for banks, taxation or any other purpose.
Generally, there are two types of financial reports that can be produced by a business or company. These are Special Purpose Financial Reports and General Purpose Financial Reports.
The different levels and styles of financial reporting requirements are determined by the Australian Accounting Standards Board (AASB). However, a simple profit and loss statement and balance sheet is produced mostly by small to medium businesses.
Where guidance or assistance to produce financial reports for your business or company is required, get in touch and one of our Team will apply their specialist skills to meet your needs.