​Financial Statements

​Financial statements are generally made up of Balance Sheets and Profit & Loss statements for the financial year. We review and amend them based on questions we will ask you and the information you have provided.  This also includes ensuring your records are up to date and reconciled.  Once the updated Balance Sheet and Profit & Loss are prepared, we also align your accounting records to the updated figures.  The final statement is supplied to you in electronic format so that you have ease of storage and can forward it on to financial institutions as required.

​Legal Engagement
By engaging us to compile financial statements, you acknowledge that the reliability, accuracy and completeness of the accounting records are your responsibility; and that you have disclosed to us all material and relevant information.
It does not include one off account preparation.

​Service Components

  • 1
    We will ring, email and/or talk face to face about your affairs throughout the preparation period. We will be proactive in asking you questions, and seeking answers, to get the best understanding of your business that we can.
  • 2
    ​Chart of Accounts
    This service includes maintenance of the chart of accounts for the general ledgers of your entities. In other words, we classify your accounts in a way that we think will help you read them.
  • 3
    Data Entry
    In order to get your records to a point that we can prepare meaningful reports for you, we have a vast array of in-house or external solutions to collate the information necessary to complete your financial statements. Training options are also available to help you achieve the goal of back office independence. See ‘Bookkeeping’ for more information.
  • 4
    BAS Statement
    We reconcile your annual GST liabilities against your lodged BAS statements and notify you of any discrepancies. This gives you peace of mind that should you lodge your own BAS’s, one of our experts will look over them once a year.
  • 5
    ​Asset Schedules
    We attach depreciation schedules where required. This tracks your assets and provides information for the ATO.
  • 6
    Draft Preparation
    ​We prepare a working draft document for you, your family and your entities. That way, we can work together to get an accurate picture of how your business is going.
  • 7
    ​Compilation Report
    We attach a compilation report to the financial statements. This simply means that we are giving you the quality assurance that our name provides. This is important if you want to sell the business, gain additional credit or buy an asset of significance.
  • 8
    ​Final Documents
    We use the final documents to prepare your tax returns and help provide advice to you. We keep it in electronic format so that it can be emailed to you on request.
  • 9
    ​Professional Associations
    We maintain a professional association membership. In our case, we have a public practice certificate from the Certified Practising Accountants (CPA) group. This means we have access to many resources that you may find useful and we are regularly audited to ensure our processes are as strong as they can be.

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Financial Group. All rights reserved

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