Timely and accurate fiscal statements preparation is critical to the success or failure of a stage clientele concern. The Chief Executive Officer, owner, partner or a fraction of the senior management team of a business moldiness review the business financial statements and have a candid understanding of them. Visualize a funnel, with all the daily activities and be of a business - sales, production, distribution, advertising, promotion, warehousing, engineering, research, accounting and administration - dropped into the top of this funnel, with seasonable and accurate business financial statements coming out the supply of it. Each and every internal and external stakeholder in the business - owner, shareholders, partners, management, employees, suppliers, landlord, bankers, legal counsel, consultants, leasing companies, Federal and State tax agencies, credit agencies, emf buyers and/or sellers of the company - all depend upon and have a vested post in the issuance of timely and accurate business financial statements, the review of the financial statements and an understanding of the business financial statements.
Timely and accurate financial statements preparation creates assumption, credibility, reliability and business awareness of the owner and senior management in the eyeball of bankers and other financial institutions and investors who fork out cash and working roof to the business. Bankers and other financial institutions are more apt to provide the infallible cash and working heavy(p) when they have confidence the owners and senior management know whats happening in the business. The great the level of confidence bankers and other financial institutions have in timely and accurate financial statements preparation, the easier and faster it is to obtain the necessary cash and working capital at attractive interest rates, with satisfactory covenants, terms and conditions and the easier it is to increase cash and working capital as...If you want to get a full essay, order it on our website: Orderessay
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