This article will lead you through the preparation of each of these three financial statements. First, however, you need to gather together some of the financial data you'll need by examining your expenses. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. We are an $800 million dollar, three business unit company with operations only in the US. We spill into day three only if there is an significant issue to address. Here’s a sample financial statement template that shows the order of how each statement works together to report the full economic position of a company beginning with the balance sheet. The close process also includes a summary balance sheet change review with an internal activity format cash flow statement for month and year-to-date. We will sometimes add one day at quarter-end and two at year-end, except for final pension plans data which awaits the actuarial report in late January.