You are the boss of a small business. An entrepreneur with aspirations of growth and financial success. Probably not an accountant. It would be very difficult for you to focus on the growth and success of your business if your spending all your time on your businesses accounting. Accurate accounting practices can make or break your business. Outsource your accounting needs to L&A so you (the boss) can focus on what matters. Growth and success. Let L&A be your accountant.
Whether your business is a start-up or an established company, it is important to have access to accurate financial information. Generating financial reports illustrate a companies’ profitability and provide an accurate financial snapshot. You then can use these reports to assess an expansion of your business, cash flow, wasteful expenses etc.
In this industry, the two "E's" are everything. Experience and Expertise, that is. Our expertise comes from our CPAs and accountants' decades of combined experience. Our team of accounting sorcerers provide you, the business owner, an accurate snapshot of your financial position. We simplify what it all means to a level that someone with no knowledge of accounting and financials can understand.
- Profit & Loss (Income Statement)
- Balance Sheet
- General Ledger
- Statement Of Changes in Financial Position
The Profit & Loss (or P&L) is a financial statement that summarizes the revenues, costs and expenses of a specific period of time. These records are a snapshot showing the ability of a company to generate profit by increasing revenue and decreasing costs. The statement of profit and loss usually starts with a general revenue entry. The operating costs, cost of goods sold, interest expense and tax expense are then deducted from the revenue to arrive at your bottom line or net income or net profit.
The Balance Sheet is a financial statement that summarizes a company’s assets, liabilities and shareholders’ equity at any given specific time. These segments provide a snapshot of what a given company owns and what it owes. It also can show the investments of shareholders. The Balance Sheet is another important financial report commonly used to analyze a company’s financial position.
The general ledger is a companies main accounting records. It includes every financial transaction made throughout the span of the company and is used to generate many financial reports including the P&L and Balance Sheet. The general ledger shows every credit and debit the given company incurs throughout its lifespan.
The statement of change in financial position is a statement that outlines the sources and uses of funds. It also explains any changes in cash or working capital.
- General ledger and financial statement preparation
- Accounting system setup and support
- Payroll Processing
- Cash Flow Budget/Forecast
- Financial Statements
- Corporate Tax Planning and Tax Preparation
- Financial Consulting