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Financial Statements

A financial statement clearly illustrates a company’s financial position and activities. They are beneficial if you want to stay up-to-date on where your money is coming from and going to. They are vital to have for Australian Tax Office (ATO) audits of business activities and financial information. Therefore, you need GC Accountants—Newcastle based experts in organising financial reports. Our team helps your business to keep a record of all financial transactions and tax obligations—so you don’t have to worry about tax returns or audits.

We know tax audits can be confusing, and they generally occur when the ATO nominates your company for a closer inspection—and everyone can be the subject of a surprise audit. We aid businesses – big and small – to collate information into foolproof financial statements. So, if an audit occurs, we can liaise with the ATO for you and show them comprehensive financial information.

We also understand every business has distinctive qualities. No two companies will have the same employees, cash flow, objectives, or challenges facing them. That’s why GC Accountants approach every financial statement with candour, integrity and efficiency. We assemble comprehensive financial reports for general use, tax time, audits, and everything in-between. Leave it to us and take the headache and guesswork out of collating financial statements for tax returns—reach out to GC Accountants today.

Keeping track of your company’s financial statements and tax issues is extremely challenging and time-consuming.

GC Accountants are experienced specialists in the detailed analysis of financial records. We know the ins and outs of interpreting economic data and translating it into succinct statements of financial position that follow all the reporting requirements.

GC Accountants simplify the financial statements process, which consist of four main components

  • Balance sheet statements—illustrate business assets and how much money is owed
  • Income statements—how much money the company spent and made
  • Cash flow statements—how much money was exchanged between the business and customers
  • Financial statements— indicate the evolution of the interests of a business’s shareholders.

GC Accountants are experienced specialists in the detailed analysis of financial records. We know the ins and outs of interpreting economic data and translating it into succinct statements of financial position that follow all the reporting requirements.

We also understand every business has distinctive qualities. No two companies will have the same employees, cash flow, objectives, or challenges facing them. That’s why GC Accountants approach every financial statement with candour, integrity and efficiency.

We assemble comprehensive financial reports for general use, tax time, audits, and everything in-between. Leave it to us and take the headache and guesswork out of collating financial statements for tax returns—reach out to GC Accountants today.

I was super impressed with how quickly Gary was able to determine I needed to be operating my business through a Company rather than a sole trader, once this was confirmed his team provided me with a company setup service that was quick and efficient to say the least. It’s great to have an Accounting Firm that have my back and want me to succeed in business. I know I can contact Gary & the team with any queries I may have when it comes to Xero, Accounting or Tax advice.
Emma Murphy
Emma Murphy
I just want to give a massive shout out to Megan & Gary, I am a new client to GC & I had a LOT going on with my return. The guys finished it quickly & efficiently without too much fuss and even picked up a few things I had missed which helped save me tax! Thanks guys and if anyone needs their tax done I can recommend GC Accountants even in lockdown!
Mathew Moller
Mathew Moller
Very happy to recommend GC Accountants! I was looking for an accountant that's really motivated to get new clients and work hard for them. I was impressed by their reviews and advertising. I run a marketing business and a wedding DJ business. So I respect businesses that invest in marketing and growth. The team at GC have been very responsive, hardworking and approachable. I really appreciate everything they have done for me. Thanks!
Brendan Kelso
Brendan Kelso
Thank you very much GC Accountants and in particular, Gary. You have been an absolute delight to deal with. Your knowledge and customer service made for a very pleasant experience for my partner and I. I will be recommending GC to all of my friends. Keep up the good work!
Paddy D
Paddy D
I had another great session with Gary and the team at GC accountants about generating more profits from Sales I get. They are experts in Small business. High Quality advice- keep it up
Craig Lowth
Craig Lowth
I run a small Carpentry business and needed help with bookwork so that my records could be organised for a tax return. Gary & his team set me up on Xero & all I need to do is send invoices - which I can do from my phone! This system ensures I don't miss any tax deductions & I have money set aside to pay tax. If you need help with Xero or any tax questions I recommend GC Accountants for sure!
Aaron Gilmour
Aaron Gilmour
We have used GC accountants for the past 5 years. They have helped us with advice on taxation involving our family trust, capital gains and superannuation contributions. I would highly recommend this business.
Shane Vallance
Shane Vallance
My husband & I had a Self Managed Super Fund that we had setup but our plans changed & so we no longer needed the Fund, closing an SMSF is quite a process but Gary & his team helped manage the process quickly and efficiently.
Susan Rhodes
Susan Rhodes
We had never been to an accountant before but wanted advice for property investment. We needed an Accountant’s advice on how to best structure our finances to maximise our tax deductions. From the moment I spoke to Megan I felt comfortable with GC Accountants. During the 1 hour meeting, Gary gave us lots of advice on negative gearing, loan structuring and deprecation tax deductions as well as tips & options for future investments. We feel very comfortable with our decision to use GC Accountants and I would highly recommend them.
Amy & Corey White
Amy & Corey White
Would easily recommend, Gary was so patient with me and was an awesome resource in helping me put together my thoughts to organise the best plan of action for my small business. Was well worth the cost and can imagine will pay for itself tenfold in the long run!
Kahn Pearce
Kahn Pearce
I was super impressed with how quickly Gary was able to determine I needed to be operating my business through a Company rather than a sole trader, once this was confirmed his team provided me with a company setup service that was quick and efficient to say the least. It’s great to have an Accounting Firm that have my back and want me to succeed in business. I know I can contact Gary & the team with any queries I may have when it comes to Xero, Accounting or Tax advice.
Emma Murphy
Emma Murphy
We had a excellent experience with GC Accountants. This was the first year that we needed to do our tax return with our property having been rented out. Megan was extremely knowledgeable and helpful in explaining what documents we needed to provide and was quick to reply to any questions we had. The end result was that we received great tax returns. We would highly recommend GC Accountants to anyone.
Allison Gibb
Allison Gibb

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