Financial Statements

The preparation of financial statements is a compliance function for all Australian businesses. These require us to determine Profit and Loss and a statement of position (Balance Sheet). These are very useful business tools measuring financial success and can act as a springboard for future planning.

In accordance with Australian accounting standards, all businesses must prepare financial statements at the end of each financial year. With our wealth of experience and expertise, the team at Parker Crofts & Co is perfectly positioned to help.

Annual Financial Statements. These are prepared using the latest computer software and systems to allow our clients’ work to be handled as efficiently as possible. Clients are offered an exit meeting where the results can be discussed and issues addressed.

Interim Financial Statements. Interim financials can be prepared for a range of reasons. These include:

  • To monitor performance against forecasts.
  • To plan for current and future tax liabilities.
  • For the sale of the business.
  • To assist with bank finance or general banking requests.

Software Support and Cloud.  Most businesses do their book keeping on software programs such as MYOB, Quick Books and Attache, to name just a few. The team at Parker Crofts & Co is proficient in the use of these softwares and can offer a high level of client support. Relatively new to the scene is Cloud Accounting, which is the way of the future. And though clients don’t need to rush into changing over, it is inevitable. Again, the team at Parker Crofts & Co can assist with any support required.