The process of preparing company financial statements can be a complicated one.

First, you need to compile all relevant data from your records and those of other companies you have been associated with as either shareholders or debtors. This includes income, expenses, assets, and obligations for each month or the year-to-date period covered by your statement.

After compiling this information monthly, it is necessary to calculate the total net profit for each month/year-to-date period covered by your statement. The next step would be computing taxes payable on these profits. Once these calculations have been made, we must summarise them into a balance sheet and Profits & Loss report.

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