Austin, TX -- (ReleaseWire) -- 11/22/2022 --Construction financial statements are necessary for realtors that deal with residential and commercial contractors in Fort Worth and Austin, Texas. These statements are essentially required when presenting financial data about a contractor or project. Businesses may also require these statements from the contractor to learn about their company's financial position.

Usually, construction financial statements in Fort Worth and Austin, Texas include a profit and loss statement, a balance sheet, and an income statement. The construction financial statements are critical for prospective investors, who use them to gauge the contractor's operational strength and performance. Additionally, they come in handy when companies evaluate various service providers who have bid on construction projects.

Modern businesses may require construction financial statements when they bid on projects that require significantly more overhead and equipment costs than projects usually do. Having such statements in place means that the contractor's or service provider's financial health will not be questioned.

The S | CPA Group is a leading full-service professional services firm providing auditing, accounting, tax, consulting, and financial advisory services. Their experts at the company offers over 100 years of combined professional experience serving a diverse range of clients, including national accounting firms, mid-size corporations, non-profit organizations, and emerging growth companies.

The construction financial statements are essential because stakeholders can review gross profit, receivables, and payables to determine whether the contractor can continue operations. Lenders use financial statements to assess whether the firm has sufficient capital and credit to continue operations. As for income statements, they are used by businesses and analysts in determining the financial performance of a contractor's business.

At the S|CPA Group (formerly Scarborough, Trlica & Wood), a member of the S|CPA Network, they compile, review, and audit construction financial statements to ensure that they are accurate, complete, and follow generally accepted accounting principles. An audit involves evaluating the financial statements and providing a written report of the findings to an independent, third-party client.

For more information on CPA for realtors in Austin and Plano, Texas, visit https://www.scpagroupllc.com/real-estate-brokers-and-developers/.

Call 512-373-8239 for details.

About The S|CPA Group- A Member of the S|CPA Network
The S|CPA Group- A Member of the S|CPA Network is prepared to provide considerable expertise in construction accounting to diverse businesses. Their number one goal is the satisfaction of contractors and construction project managers.