A monthly profit and loss statement isn’t just a compliance document — it’s the closest thing a business has to a real-time health report. Combined with a balance sheet and cash flow statement, monthly financials tell you exactly where your business stands: whether you’re profitable, whether you’re cash-positive, and whether your financial trajectory matches your growth plan.
FJ & Associates delivers reviewed monthly financial statements to Utah businesses within 5–7 business days of month-end — every month, without fail.
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The Three Core Financial Statements
Profit and Loss Statement (Income Statement)
Shows revenue, cost of goods sold, gross profit, operating expenses, and net income for the period. The P&L answers: Did we make money this month? Which expense categories are growing? What is our gross margin?
Key line items:
- Revenue by product/service line
- COGS
- Gross Profit
- Operating Expenses by category
- EBITDA
- Net Income
Balance Sheet
A snapshot of your business’s financial position on a specific date — assets, liabilities, and equity. The balance sheet answers: What does the business own? What does it owe? What is the owner’s equity?
Key line items:
- Cash
- Accounts Receivable
- Inventory
- Fixed Assets
- Accounts Payable
- Notes Payable
- Owner’s Equity
Cash Flow Statement
Shows actual cash movement — operating, investing, and financing activities. The cash flow statement answers the critical question that the P&L does not: Where did the cash actually go?
Profitable businesses can run out of cash. Unprofitable businesses can be cash-flow positive. The cash flow statement reconciles the difference and gives you the full picture.
What CPA-Reviewed Means
Every monthly financial statement we produce is reviewed by a licensed CPA before delivery. That review catches:
- Misclassified transactions that distort margins or expense ratios
- Anomalies that might indicate errors or unauthorized transactions
- Trends that signal issues worth addressing before year-end
- Tax-relevant items that need handling before they become problems
Your financial statements aren’t just numbers — they’re a management tool. We make sure they’re accurate enough to act on.
Formats We Deliver
- Management-format P&L — clean, readable, with prior-period comparison
- Lender-format financials — accrual-basis, formatted for bank submission
- Investor-format — with unit economics and KPI overlays where applicable
- Tax-prep format — aligned with Schedule C, Form 1120-S, or Form 1065 as appropriate
Financial Statement FAQs
What’s the difference between cash basis and accrual basis financial statements?
Cash basis statements record income when received and expenses when paid. Accrual basis records income when earned and expenses when incurred, regardless of cash timing. Most small businesses use cash basis for simplicity and tax reporting. Lenders and investors typically require accrual-basis statements because they more accurately reflect business performance.
How quickly can I get my financial statements each month?
We deliver reviewed statements within 5–7 business days of month-end, assuming all source documents are available. Businesses that use bank feed integration and cloud accounting software consistently receive statements faster than those on manual processes.
Can I get financial statements for multiple locations or entities?
Yes. We produce consolidated and entity/location-level statements for businesses with multiple locations or entities — giving you both the combined view and the individual performance breakdown.
Financial Statements You Can Actually Use
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See also: Monthly Bookkeeping Services | Cash Flow Analysis | Profitability Analysis
Missy Dennis, CPA | Partner | FJ & Associates, PLLC | Kaysville, Utah
Missy holds a Master of Accounting degree from the University of Utah and is a licensed Certified Public Accountant. She is committed to providing clear, accurate, and actionable guidance so clients can navigate complex financial decisions with confidence. With more than twenty years of public accounting experience, Missy Dennis specializes in: Tax preparation and tax advisory; Bookkeeping strategy alignment; Estate and trust taxation; Audit and consulting services; Low-income housing tax credits; Non-profit accounting; Small- and mid-sized business advisory.
