Compiling Contractors Financial Statements

Companies that are engaged in contracting are certainly a large company that has a very heavy transaction flow. The activity of compiling the company's financial statements and the company's financial analysis is one of the most important agenda to consider.

Broadly speaking, the company's financial statements in the contractor are the same as the company's financial statements in general. The difference lies in the results of the transactions analyzed as a result of the development of the company. To be able to better understand how to compile the financial statements of the contractor company, there are several steps in preparing financial statements.

Recording Data Required in Company Financial Statements

The company's financial statements in the contractor have a systematic preparation and completeness of the same data with other financial statements, namely, balance sheet reports, profit and loss analysis reports, and company equity reports. There are two important steps in preparing the report, namely data recording and data analysis.

Recording data includes the following variables:

  • Data on receipt of transaction evidence
  • Data recording company financial journal
  • Data recapitulation of company transaction results.

  • The recording data is the initial data that will be used as analysis data in the financial statements. What are the things analyzed in the company's financial statements? The following is an explanation of the data analysis in the company's financial statements.

    Data Analysis in the Company's Financial Statements

    The financial statements of the contractor company not only stop the data recording. The recorded transaction data is the initial analysis data to find out some important company information such as the balance sheet, analysis of profits and losses and the decision to increase capital and development. In order for the company's financial statements to provide information that can play a role in the development of the company, in the preparation of the company's financial statements several analyzes are prepared, namely:

  • Balance balance analysis
  • Asset analysis and corporate liquidity
  • Making lane balance sheets and settlement journals
  • Closing trial balance
  • Return journal balance sheet
  • Financial analysis report
  • That is some data analysis that will be discussed in the preparation of financial statements. In order to produce a useful information for the company, it is strongly recommended that the financial statement analysis process be carried out as well as possible. This analysis report has a very positive effect.

    Through a good company financial report, there will be information relevance to the policies taken in developing the company. Based on the correct information through the company's financial statements, the policies are decided accordingly so that it will be more relevant for the company. In addition, financial statements will be easier to understand for lay people who are not from economists. The company's financial statements will provide a clear picture of the circumstances and financial situation of your company. Furthermore, based on the results of the company's financial statements, fraudulent practices within the company can be minimized.

    Preparation of financial statements is based on the completeness of recording data, and the results of analysis of data and various information obtained starting from company assets, capital, profits obtained and balance sheets. The results of this report will be used as a consideration for company policy in the coming period.

    Decisions through the results of the analysis summarized in the financial statements maintain the integrity and loyalty of the company in managing the company's financial resources and resources. Therefore compiling company financial statements should be done in a neutral, objective and timely manner. This is to avoid cheating that will occur in your company. Conducted neutrally so that financial analysis in financial statements is reported correctly not to defend and side with any party. Objectives intended in the preparation of financial analysis reports are carried out independently and accurately. Timely is the reporting and preparation of the company's financial statements completed in a timely manner so as not to hamper the company's next target.