Financial accounting is one of the cornerstone of any accounting firm’s services and is the main reporting mechanism for preparing financial accounts for all organisations across all sectors.

Financial reporting is a formal historical record of the financial activities and position of a business, person or entity. Financial Statements or Reports provide a snapshot of the trading activities of a business at a given point in time and covering a designated period.

The main reports usually generated are in the form of:

• A balance sheet (Statement of Financial Position)
• An Income statement (Profit & Loss / Statement of Revenue & Expenses)
• Cash flow Statement
• Purpose specific reports as required

As management and many individuals, banks and other organisation rely on the information contained in the financial reports, it is critical that that information be reliable, understandable and relevant. Reported assets, liabilities, equity, income and expenses directly reflect the organisation’s financial position and the accuracy must be assured.

We at Carmelo Mirabile & Co strive to achieve the highest standards of accuracy, reliability and integrity in reports we prepare. We are not your average accounting firm and we aim to help you build a better, more profitable and valuable business by combining the knowledge of your business with our consulting tools and expertise.