Sound Financial Reporting depends on strong internal accounting procedures.
WGC collect and collate accurate - timely and relevant information including all standard reports: income statements - cash flow statements and statements of financial positions (balance sheets).
In addition to report preparation - WGC can advise on decision making based on those reports. WGC Advisors stay up-to-date with reporting requirements and standards ensuring all statements are clear - legal and ethical.
Savvy business people and investors actively use financial reports to gauge the health and capabilities of a business. Profit and loss statements help Clients objectively determine the business's financial performance. Cash flow statements provide important insight into Clients business's current liquidity and the way it is trending. Balance sheets provide a snapshot of the business's assets and liabilities at a specific point in time.
WGC financial reports provide timely answers to the following questions:
Is the business making profit or suffering a loss and how much?
How do assets stack up against liabilities?
Where did the business get its capital and is it making good use of the money?
How healthy is cash flow and how is it changing?
Did the business reinvest all its profit?
Does the business have enough capital for future growth?
Without an understanding of basic accounting terminology and measurement methods - preparing financial reports can be time consuming - taking away from Client's core business.
WGC collects and interprets this financial information and can guide Clients to ascertain appropriate future steps.