Financial Accounting
Financial accounting services are an array of professional services that record, categorize,
summarize, and report a company’s financial activities. These services are critical for
measuring and conveying a company’s financial performance to external stakeholders
including investors, creditors, and regulatory agencies. These transactions are summarized
in the creation of financial statements, such as the balance sheet, income statement, and
cash flow statement, which document a company’s operational performance.
- Bookkeeping and financial reporting: These services include maintaining detailed
financial records and preparing financial statements, such as balance sheets and
income statements. - Business advisory: Combining financial data with tax expertise, firms provide
strategic advice to help clients with financial decisions, improve profitability, and plan
for growth. - Entity selection and structuring: Advise businesses on the tax and financial
implications of different business structures (LLC, S-Corp, C-Corp) and assist with
the registration process.
