Every individual or company should prepare the financial statements on an annual basis. You require them to assess your financial position at a particular time. You may require the same to submit to the banks when you apply for financial institutions. The companies and the organizations have a legal binding to publish their Financial Projection Templates. They also require placing them in the Annual General Meetings of the shareholders and ratifying the same. These Financial Statement Templates with the Internal Link Anchor Text would be of assistance in the matter.
This is the template of a Personal Financial Statement. You would be declaring the same on a voluntary basis. This statement would include all your assets as well as liabilities. It would have a computation of your annual income as well as annual expenses. This would be useful for you when you apply for financial assistance from the banks.
This is a Business Financial Statement Template wherein you will include the financial details of your business. This statement would include the details of each asset and liability. The banks and other financial institutions would require this information from you when you apply for financial assistance.
There are many non-profit making organizations as well. They have their own set of assets and liabilities. This Non-Profit Financial Statement Template would help you to procure the information in a structured format and classify them accordingly under the various heads. These organizations have to declare these statements for the benefit of their donors.
Every business is unique in its own way. Hence, the financial statement of a manufacturing unit would be different from that of a restaurant. This Financial Statement Template for Restaurant would be an ideal one for the restaurant and hotel industry.
Every state has its own format for the individuals to submit their financial statements. The state of Wisconsin follows the format set out in the Individual Financial Statement Template. The statement includes the intricate details of all the assets and liabilities of the individual.
The corporate companies have to follow a fixed format for reporting their financial statements. The companies have to adhere to the same in all respects. The Corporate Financial Statement Template is a perfect example for the corporates to follow. It includes every aspect of corporate activities. They have to publish the same every year in this format alone.
The corporates have to publish their annual statements on a statutory basis. However, the law stipulates that they have to prepare the interim statements on a quarterly basis as well. There would not be any need to audit the same. The Interim Financial Statement Template would be the format to follow.
This is a sample document of the financial statements of an organization. The auditors have to certify the genuineness of these financial statements. These statements would include the balance sheet as well as the statement of income and expenses. There are certain annexures as well.
In the earlier days, the preparation of the financial statements was in the manual mode. Hence, you had to be extremely careful while tallying the same. Nowadays, with the advent of computers, you have to make your daily entries correctly. The financial statements get ready in the background. The programs are such that accurate entries at the initial stage would be very helpful.
You have to be very careful while including the assets and liabilities. Any wrong entry would affect the financial ratios. This could have a serious impact on the financing aspect as the banks concentrate more on the financial ratios while processing the credit applications. You may also see Financial Budget Plan Template.
An individual or a company would have a format in which they have to report their financial positions. However, a financier would require some additional information. The information would already be there in the report. The financier would have to amalgamate the reports in a different manner. This would involve a juggling of the figures and classify them under various heads.
This would give a better picture of the financial strength of the company. The banker has to read between the lines. He would concentrate more on the ratios and compare them with the earlier performance of the company as well as with the market average. This would assist in calculating the maximum permissible bank finance amount. You may also see Financial Spreadsheet Template.
The main objective of preparing a financial statement is to present the correct financial picture of the company at a particular point. The assets and liabilities statement would give you a true idea as what you own and what you owe. This would help you to plan accordingly.
The other benefit of a financial statement is that you can use the same to generate additional doses of finance from the banks as well as the market. The financial statements would present the data in such a manner that you would be able to judge instantly whether you would be able to afford the repayment or not. This is good for maintaining financial discipline.
You have seen the importance of the financial statements to the individuals as well as to the companies and organizations. These Income statement templates with the Internal Link Anchor text would be the ideal templates to follow when you start preparing your statements. They follow a structured formula enabling you to enter your details in a simple manner.