A financial statement is a formal record of your business's financial activity, prepared to give a clear picture of its position and performance — useful to you, to lenders, and to anyone else who needs to make a decision based on the numbers.

Three statements do most of the work:

• The income statement (P&L) — what you earned and spent over a period
• The balance sheet — what you own and owe at a point in time
• The cash flow statement — how cash actually moved in and out

We prepare these monthly, quarterly, or annually depending on what you need — and we're glad to walk through what they actually mean for your business, not just hand you the numbers.