A business financial statement is a document which highlights the income and expenditure of a business entity for a particular financial year. It must be accurate and well researched so that no inadvertent error may creep into such a crucial document. A business financial statement is also useful in many other ways and not just as a record of the finances of the business enterprise for a particular period of time. The business financial statement must be prepared by professionals equipped with the know-how to make effective statements.
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Sample Business Financial Statement:
The following is an extract from the business financial statement for the period: March 2011-April 2011.
Name of business enterprise: Sun Solutions Pvt. Ltd.
Year of establishment: 1956
Date of submission of business financial statement: 12th April 2012
Business financial statement prepared by: Martha Jones, Head of Department, Finance, Sun Solutions Pvt. Ltd.
Purpose of business financial statement: To maintain a record of the financial transaction of our establishment for the period of time specified and to present, if necessary, a clear and transparent account of our credibility to prospective investors and business partners. We will maintain a record for tax assessment purposes.
Gross income of the business enterprise: $ 3 million
Dues to be cleared: $2 million, which includes
- Premium for accident insurance: $ 40000
- Premium for theft insurance: $ 3000
- Salaries and other liabilities with regards to our employees: $1 million
- Bank loans to be cleared in the monthly period: $300000
Net profit: $1 million [check overleaf for a complete list of the financial transactions of the period stipulated]