Financial Report Dashboard
Create GAAP-compliant financial reports with ease
Report Status
In Progress
45% complete
GAAP Compliance
Verified
All sections meet GAAP standards
Next Steps
Complete IS
Income Statement needs completion
Quick Start
Recent Activities
Balance Sheet updated
2 hours ago
Started Income Statement
Yesterday
Imported trial balance
2 days ago
GAAP Compliance Checklist
Income Statement
Report revenues, expenses, and profits for the period
Income Statement Details
| Account | Current Period | Prior Period | Variance |
|---|---|---|---|
| Revenue | +13.6% | ||
| Cost of Goods Sold | +15.4% | ||
| Gross Profit | 500,000 | 450,000 | +11.1% |
| Operating Expenses | +13.6% | ||
| Operating Income | 250,000 | 230,000 | +8.7% |
| Interest Expense | -14.3% | ||
| Net Income | 220,000 | 195,000 | +12.8% |
GAAP Compliance Notes
Income Statement Visualization
Balance Sheet
Report assets, liabilities, and equity as of the reporting date
Balance Sheet Details
| Account | Current Period | Prior Period | Variance |
|---|---|---|---|
| Assets | |||
| Cash & Equivalents | +25.0% | ||
| Accounts Receivable | +6.7% | ||
| Inventory | +11.1% | ||
| Property, Plant & Equipment | +11.1% | ||
| Total Assets | 930,000 | 825,000 | +12.7% |
| Liabilities | |||
| Accounts Payable | +20.0% | ||
| Short-term Debt | -16.7% | ||
| Long-term Debt | +7.1% | ||
| Total Liabilities | 410,000 | 390,000 | +5.1% |
| Equity | |||
| Common Stock | 0.0% | ||
| Retained Earnings | +25.4% | ||
| Total Equity | 520,000 | 435,000 | +19.5% |
| Liabilities + Equity | 930,000 | 825,000 | +12.7% |
GAAP Compliance Notes
Balance Sheet Visualization
Cash Flow Statement
Report cash inflows and outflows from operating, investing, and financing activities
Cash Flow Details
| Account | Current Period | Prior Period | Variance |
|---|---|---|---|
| Operating Activities | |||
| Net Income | +12.8% | ||
| Depreciation & Amortization | +11.1% | ||
| Changes in Working Capital | +50.0% | ||
| Net Cash from Operations | 240,000 | 220,000 | +9.1% |
| Investing Activities | |||
| Capital Expenditures | +33.3% | ||
| Investments | +100.0% | ||
| Net Cash from Investing | -100,000 | -70,000 | +42.9% |
| Financing Activities | |||
| Debt Issued | -37.5% | ||
| Debt Repayment | +33.3% | ||
| Dividends Paid | +20.0% | ||
| Net Cash from Financing | -20,000 | 25,000 | -180.0% |
| Net Change in Cash | 120,000 | 175,000 | -31.4% |
| Cash at Beginning of Period | 120,000 | 95,000 | +26.3% |
| Cash at End of Period | 240,000 | 270,000 | -11.1% |
GAAP Compliance Notes
Cash Flow Visualization
Notes & Disclosures
Add required GAAP disclosures and explanatory notes to the financial statements
GAAP Required Disclosures
1. Summary of Significant Accounting Policies
2. Cash and Cash Equivalents
3. Property, Plant and Equipment
4. Revenue Recognition
5. Income Taxes
6. Commitments and Contingencies
7. Subsequent Events
Additional Disclosures
Export Financial Report
Generate and download your GAAP-compliant financial statements
Report Options
Report Preview
Sample Company Inc.
Financial Statements
For the Year Ended December 31, 2023
Income Statement
| Revenue | $1,250,000 |
| Cost of Goods Sold | $750,000 |
| Gross Profit | $500,000 |
| Operating Expenses | $250,000 |
| Operating Income | $250,000 |
| Interest Expense | $30,000 |
| Net Income | $220,000 |
Balance Sheet
Assets
| Cash & Equivalents | $150,000 |
| Accounts Receivable | $80,000 |
| Inventory | $200,000 |
| Property, Plant & Equipment | $500,000 |
| Total Assets | <