Preparation of Financial Statements

Right Way, Financial Statements Preparation, has been providing financial accounting services in Dubai and UAE for the past years. Financial accounting is the process of preparing a financial statement for a company. The main purpose of this financial statement is to show the company’s financial status to the investors, suppliers, creditors, clients, and government agencies. The main purpose of the financial statement is to provide a fair picture of the financial affairs of the business. Right Way, Financial Statements Preparation takes the following steps to prepare a financial statement.

We help you to prepare a double-entry system. The double-entry system in bookkeeping means, that for every business transaction the sum amount must be recorded in a minimum of two accounts. The sums recorded as debits must equal the sums recorded as credits in this system. There is a rule of debit and credit, you can debit the account when an asset increases, and can credit the account when liability increases. We create a ledger entry statement of your business statement. It includes the correct date, total amount to be debited and credited, the amount of transaction, and the unique reference number. Right Way, Financial Statements Preparation, helps to prepare a ledger entry using debit and credits of the account and ensures proper closing of the ledger.      

After preparing a ledger, we prepare a trial balance. Finally, after collecting all the data, we go for the preparation of a financial statement for your company. We also make you finalize and verify the financial statement to help you with better financial planning. We prepare the income statement, balance sheet, equity statement of the shareholders, and cash flow statement. We analyze all the profits and losses of your company. Then calculate the net cash flow for the financial year. Our reports are based on IFSR auditing standards.