Welcome to C.A. on the Way
C.A. on the Way is a firm that specialises in the preparation of financial statements. We also provide other services, such as taxation, secretarial work and many more accounting functions.
We make sure your business is compliant as well as efficient. We go the extra mile so that you can focus on growing your business.
C.A. on the Way staff are members of SAICA.
Find out more about financial statement preparation here.
Financial statements (or financial reports) are formal records of the financial activities and positions of a business, person, or other entity.
Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis:
- A balance sheet or statement of financial position, reports on a company’s assets, liabilities, and owners’ equity at a given point in time.
- An income statement or statement of comprehensive income, statement of revenue & expense, P&L or profit and loss report, reports on a company’s income, expenses, and profits over a period of time. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period.
- A statement of changes in equity or equity statement or statement of retained earnings, reports on the changes in equity of the company during the stated period.
- A cash flow statement reports on a company’s cash flow activities, particularly its operating, investing and financing activities.
For large corporations, these statements may be complex and may include an extensive set of footnotes to the financial statements and management discussion and analysis. The notes typically describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements.
Chartered accountant refers to professional accountants who are qualified to take on a number of specific activities within the spectrum of accountancy. Such tasks include auditing financial statements, filing of corporate tax returns and financial advising.