Financial reporting is the way businesses communicate financial data to external and internal stakeholders. External stakeholders — like regulatory agencies, current and potential shareholders and investors, and lenders — use financial reports to draw conclusions about a company’s current and future financial health.
Financial reporting aims to track, analyses and report your business income. This helps you and any investors make informed decisions about how to manage the business. These reports examine resource usage and cash flow to assess the financial health of the business.
Forecasting — financial reporting focuses on forecasting future finances and influencing future expenditures. Accounting gathers this information so that it can be analyzed with reporting in the future.
Types of Financial Statements
- Balance Sheet.
- Income Statement.
- Cash Flow Statement.
- Statement of Changes in Capital.
- Notes to Financial Statements.
In that course we will focus on:
- Maintain the general Ledger.
- Reconciliation the payroll.
- Reconciling all taxes accounts (FUTA, SUTA…etc.)
- Allocated the overhead.
- Monthly journal entries. (Accrual, Sales, Commissions, Insurance, Depreciation, prepaid….)
- Inventory Count and Inventory adjustment.
- Determine the Cost of goods sold.
- Prepare the financial
- Analysis the financial reports.
- Prepare the forecasting sales.
- Prepare the forecasting unit cost, direct and indirect cost.
