Company Financial Status is similar to physical health of a person. Your physical health is crucial to living a happy and successful life. So applies the same concept to your company. Company Financial Status refers to the state and condition of your company finances.
There are four main financial statements to look at when evaluating your company’s status.
that shows what the company owns and what it owes at a fixed period of time.
that shows the company’s income and expenditures
Cash flow statements
shows the summarise of cash position
Statements of shareholders’ equity
shows the changes in the value of shareholders’ equity or ownership interest in a company
How can you obtain your Company Financial Status from Xero?
You don’t need to send your whole company books to your accountant. If you are Xero user. You just need to press a few buttons and follow below steps:
- Log in your Xero
- Go to “Accounting” from the top bar
- Select “Profit and Loss”
- Choose “Date Range” for example 1 April 2020 to 31 Mar 2021
- Select “Compare with 1 period”
- Click “Update” on the left
- Updated Profit and Loss statement will pop up
For further information, please contact us.
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