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FinServ PartnersFinServ PartnersFinServ Partners
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Patia, Bhubaneswar, Odisha - 751017, India
FinServ PartnersFinServ PartnersFinServ Partners

Preparation of Financial Report

Preparation of Financial Report

A Financial Report or Financial statement consists of an Income statement, Balance sheet, Cashflow statement, and Statement of Changes in Equity. A Financial report is one of the most important sources of information about a company’s financial performance over a specified period. Financial reports are used by investors, business valuators, equity research analysts, company management, tax authorities, suppliers of capital, investors, etc. Financial statements are usually prepared on a quarterly and annual basis.

Financial reports provide the most in-depth information about a company’s historical financials, which act as the basis for the company’s analysis and valuation-related activities. The company’s own management also uses financial reports to understand the business’s financial performance and financial position to make better strategic decisions. Auditors, taxation authorities, and other regulators also rely upon financial reports for their respective purposes. A financial report is a rich source of information and an essential document for various stakeholders of a company.


The following are the major component that has to be there in a financial report:

  • Income statement: An income statement is an essential component of any financial report. It provides information regarding the company’s financial performance over a given period, usually one year. It starts with Revenues (the top line) and goes down, computing Gross profit, Operating profit, Taxes, and Net income. Preparing an income statement requires a few supporting schedules, such as Cost of goods sold (COGS) calculation, etc.
  • Balance sheet: Unlike an income statement, a Balance sheet provides information about a company’s financial position as of a specific date. The balance sheet has two parts, Assets and Liabilities & Equities. Assets represent what a business owns, liabilities represent financial obligations, and the balance is termed Equity or Owner’s interest.
  • Cash flow statement: A Cashflow statement is the most reliable financial statement as it is difficult to manipulate cash balances. The cash flow statement also provides information regarding financial performance over a specified period but on a cash basis instead of an accrual system followed by an income statement.
  • Statement of changes in Equity: It starts with the Opening equity balance and, after making all the adjustments for the period, reaches at Closing balance for equity. It gives an excellent idea to equity stakeholders of how and why their capital changed in the current balance sheet from the previous year.

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    Quality is our first priority. We always provide our clients with world-class services with a 99.99% quality guarantee and keep improving the process. Our quality checking process pass-through a 3-step checking process, reducing the error chance to zero percent.

    Our process improvement continuously checks for model and report upgradation, change or application of new industry or legal rules in the valuation and analysis process. Our existing clients are very much satisfied with our quality services.

    We work on a low-price model without compromising the quality of the work. We have a talented pool of MBA, CVA, CPA, CFA and other finance, accounting, and economics graduates to maintain the quality.

    Since we operate from India, we benefit from the labour arbitrage and pass the same befit to our clients by providing quality services at 60-70% less than their in-house operating cost.

    We always try to deliver projects as soon as possible after all required work and quality checks are done.

    As soon as we receive a project request from the client, we add that to our project pipeline and set the final deadline. Then we review and request the missing documents/data from the client. In the meantime, our operation manager assigns respective tasks to respective analysts based on their competencies and sets a deadline for each. After the completion, the QC team takes over the project and checks for errors in 2-3 steps. After confirmation, our managing director quickly looks at the project and then delivers it to the client before the final deadline.

    We are a reliable and trusted offshoring partner for the client. We sign the NDA and NCA when a contract is finalised between the client and us. We work for the client's best interest in a very transparent way, for which clients rely and depend on us for their part/whole process for the long term without any confusion.

    We provide our endless dedicated support to our clients 24/7, whether related to a project, pricing, time or audit support. This is why clients have loved to partner with us for a long time. We provide support via online video meetings like zoom or Microsoft teams or skype, voice calls, Whatsapp and our online chat agent on our website.

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