When it comes to finances, organization is everything. However, there are always so many moving pieces that it's impossible to do it on your own. It's also nonsensical to leave your financial statements to one CPA and your taxes to another. At Farmer, we understand that to reach financial goals, financial statements are the roadmap. That's why we take an eagle-eye view over all your financials to compose comprehensive documents that will put you in control moving forward.
We help you learn the language of the business with timely financial information in a readable format.
By integrating all of your accounting needs, we can take an expansive view of your financials to prioritize what's most important.
Financial statements arrive in a timely fashion, so you are able to stay on top of your financial situation in real time.
of businesses fail because of cash flow problems.
of small businesses calculated a potential run rate of less than 18 months.
of minority and female-owned small businesses are approved for loans.
of Millennials can demonstrate basic financial literacy.
Financial statements are the backbone of any business. They are used for understanding your financial situation and planning. Banks, the IRS, and other important third parties utilize financial statements to lend, tax, and otherwise do business with you. Long story short: financials are the language of business.
Financial statements are a language that too few people speak. The key to understanding financial statements is knowing how they interact with each other and how a transaction influences them. This takes time to completely understand and a helpful advisor will translate it for you.
That depends on what you’re looking to get out of them. Many use financial statements to understand their overall financial situation, things like cash flow and debt service. Others use them to know how to handle taxes. But one thing is certain: everyone needs them to have a viable, focused business moving forward.
Cash flow is the heartbeat of a business. It is important to understand all the types of ins and outs of your cash flow, many of which can go unnoticed without a regularly updated statement. There isn’t a thriving business out there that does not have their cash flow understood and properly managed. It’s all about the cash.
P&L statements are the income and expenses for any given time period. Imagine yours as a video that starts on 1/1 and films all year long. Every year a new video is created and starts at 1/1. This is the income statement — a video of profitability for the year. It is the number-one tool to assess the profitability of a business. At Farmer, we compare that to years prior, helping to project and set goals for your business’s future.
Explore the other services Farmer has to offer to see how each piece fits within the strategy of your financial success.
We’re not your typical CPA. That’s OK, you’re probably not a typical business. Let us help you craft some financial goals tailored to your business. Relax, we’ve got this!