What types of financial reports do you typically prepare on a monthly basis?

Types of Financial Reports typically prepared on a monthly basis

During my accounting career, I have experience preparing several types of financial reports on a monthly basis. Some of the key reports include:

• Income Statement: Also known as Profit and Loss Statement, this report summarizes the company's revenue and expenses to show the net income or loss for the period.
• Balance Sheet: This report provides a snapshot of the company's financial position by detailing its assets, liabilities, and equity at a specific point in time.
• Cash Flow Statement: This report shows the cash inflows and outflows from the company's operating, investing, and financing activities, providing insights into its liquidity and financial health.
• Accounts Receivable Aging Report: This report categorizes the outstanding customer invoices by age to track and manage the collection of receivables.
• Accounts Payable Aging Report: Similar to the AR aging report, this report categorizes the company's outstanding vendor invoices by age to monitor and manage its payment obligations.

These financial reports are crucial for assessing the company's performance, financial health, and making informed business decisions based on accurate and timely financial information.