Financial Statement

Also known as a financial report, the financial statement is an official record of the financial activities of your business in Thailand. This is very important as it’s one of the requirements in renewing your Thai Business Visa and Work Permit and also required for other purposes such as applying for loans and the like.

The following comprises the financial statement that G.A.M. Accounting can prepare for you:

• – Balance sheet
• – Income statement/ Profit and Loss statement (or a “P&L”)
• – Statement of retained earnings
• – Statement of cash flows

Financial statements are formal records that show a company’s financial performance and position. The main statements are:

Balance Sheet – Shows what a company owns (assets), what it owes (liabilities), and the residual interest of the owners (equity) at a specific point in time. It provides a snapshot of financial health and stability.

Income Statement (Profit and Loss Statement or P&L) – Summarizes revenues, expenses, and profits over a period. It indicates how well the company generated income, managed costs, and produced net profit or loss.

Statement of Retained Earnings – Explains changes in retained earnings, which are profits kept in the business rather than paid as dividends. It connects the net income from the P&L with the equity section of the balance sheet.

Statement of Cash Flows – Tracks cash movements from operating, investing, and financing activities. It shows how much cash is generated, spent, or borrowed, and highlights the company’s liquidity and ability to meet obligations.

Together, these statements give a complete picture of profitability, financial strength, and cash management.

See what most small businesses in Thailand outsource. Payroll and VAT payments are normally outsourced. This is as the smaller companies normally tend to outsource their bookkeeping to another company. Financial reports as well as financial statements are no different.  See what other services we offer the small business in Thailand under GAM accounting. 

Lastly also see the accounting services in Thailand on here as well. Likewise we at G.A.M. Accounting ensure that all the aforementioned financial statements of your business in Thailand will be taken care of ensuring a clean financial record for your Thai company.