Financial statements are essential tools for understanding the health and performance of a business or personal financial portfolio. While some basic bookkeeping or budgeting can be done independently, there are times when a professional financial statement is not just helpful—it’s necessary. Knowing when to bring in a certified accountant or financial advisor to prepare a formal statement can make a significant difference in decision-making, compliance, and credibility. In this blog post, the experts from Mark Dicus & Company explore this further.
Applying for a Loan or Mortgage
One of the most common times a professional financial statement is required is when applying for financing. Whether it’s a business loan, a personal mortgage, or a line of credit, lenders want to assess risk. A professionally prepared financial statement adds a layer of legitimacy and accuracy that financial institutions trust. It shows not only income and expenses, but also assets, liabilities, and equity—clearly laid out and verified. This transparency gives lenders confidence in the borrower’s ability to manage and repay the loan.
Business Planning & Investment Opportunities
When a company is seeking investors or presenting a business plan, a professional financial statement becomes a critical asset. Investors need assurance that the numbers being presented are reliable. A certified public accountant (CPA) or other qualified financial expert can provide a statement that conforms to accepted accounting principles, making it easier for stakeholders to evaluate profitability, sustainability, and growth potential. The presence of professional documentation signals that the business is organized, transparent, and serious about its operations.
Meeting Legal & Tax Obligations
Certain legal and tax situations call for formal financial reporting. For example, in corporate tax filings, audits, or during mergers and acquisitions, a professional financial statement is essential. These statements help ensure compliance with regulatory agencies such as the IRS or SEC and can protect businesses and individuals from penalties or legal complications. In family law cases, such as divorce or inheritance disputes, courts may also require a financial statement prepared by a professional to ensure fair and unbiased asset division.
Selling or Valuing a Business
If you are planning to sell your business or determine its market value, a professionally prepared financial statement is vital. Potential buyers will want to review accurate and comprehensive financial records to assess the value and potential return on investment. These documents can also assist with setting a fair price, negotiating terms, and speeding up the due diligence process. Without credible financials, a sale can fall apart or lead to a significantly reduced valuation.
Bookkeepers, Accountants & More in Summerlin, North LV, Henderson, Lone Mountain Village & Greater Las Vegas, Nevada
In any situation where financial accuracy matters and trust is required, a professional financial statement is the right move. Whether it’s for personal wealth management, investor reporting, litigation support, or strategic decision-making, bringing in a professional from Mark Dicus & Company ensures that your finances are presented clearly, accurately, and in a way that aligns with standard practices. It’s a smart investment in both your reputation and your long-term financial stability. Call Mark Dicus & Company today to begin your financial statement for your needs.