Lume Capital Corporation's fiscal year 2023-2024 audit report highlights strong financial performance and effective risk management strategies.

BILLINGS, MONTANA, USA, January 30, 2024 /EINPresswire.com/ -- In a thorough evaluation of Lume Capital Corporation's financial health for the fiscal year 2023-2024, a comprehensive audit report has been released, revealing robust performance and strategic risk management practices.

Executive Summary:
Under rigorous auditing standards, the audit aimed to assess Lume Capital Corporation's financial position, performance, and risk management. The findings, detailed in the report, provide a comprehensive overview based on credible and reliable financial statements.

Introduction:
Lume Capital Corporation, a leading entity in the Fund Management Business, underwent an independent evaluation of its financial statements, ensuring adherence to the highest auditing standards. The goal was to assess the company's financial performance and risk management strategies.

Scope of Audit:
Thorough examination of financial records, interviews with key personnel, and analytical procedures were conducted. Internal control systems were assessed for their effectiveness in safeguarding assets and ensuring reliable financial reporting.

Financial Performance:
4.1 Turnover:
Lume Capital Corporation achieved a commendable turnover of $8 million during the fiscal year 2023-2024, showcasing its ability to generate substantial sales revenue through operational activities.

4.2 Profit:
Reporting a noteworthy profit of 40% on the turnover, amounting to $3.2 million, emphasizes the company's adeptness in managing costs, revenue generation, and maximizing overall profitability.

Risk Management:
5.1 Risk Assessment:
Effective strategies for identifying, evaluating, and mitigating risks were observed, demonstrating the company's commitment to protecting assets and ensuring business continuity.

5.2 Risk Management Percentage:
Lume Capital Corporation successfully managed approximately 20% of its overall risks during the fiscal year 2023-2024, showcasing dedication to minimizing potential losses and safeguarding its financial position.

FINANCIAL ACTIVITIES:
6.1 Liquidity:
With a current ratio of 2:1, Lume Capital Corporation maintains a robust liquidity position, ensuring timely fulfillment of obligations.

6.2 Profitability:
A profit margin of 40% reflects efficient cost management and the ability to generate profit from each dollar of revenue, showcasing strong financial performance.

6.3 Solvency:
The solvency ratio indicates the company's ability to meet long-term financial obligations,
portraying a solid financial base supporting operations and investments.

Income Statement (Year 2023-2024):
❖ Revenue (Turnover): $8,000,000
❖ Cost of Goods Sold (COGS): $4,800,000
❖ Gross Profit: $5,333,333.33
❖ Operating Expenses: $2,133,333.33
❖ Net Profit (40% of Turnover): $3,200,000

BALANCE SHEET (EXPECTED BY THE END OF YEAR 2023-2024):
Assets:
❖ Cash and Cash Equivalents: $800,000 to $1,600,000
❖ Accounts Receivable: $657,534 to $1,315,068
❖ Investment Portfolio: $640,000 to $960,000
❖ Property and Equipment: $320,000 to $640,000
❖ Intangible Assets: $160,000 to $320,000
❖ Other Assets: $160,000 to $320,000
❖ Total Assets: $11,200,000

LIABILITIES:
❖ Accounts Payable: $657,534 to $1,315,068
❖ Accrued Expenses: $160,000 to $320,000
❖ Other Liabilities: $160,000 to $320,000
❖ Total Liabilities: $5,333,333 to $16,000,000

CASH FLOW STATEMENT (YEAR 2022-2023):
Operating Activities:
❖ Cash Inflows: $8,000,000
❖ Cash Outflows: $4,800,000
❖ Net Cash Flow from Operating Activities: $3,200,000

INVESTING ACTIVITIES:
❖ Cash Inflows: $320,000 to $640,000
❖ Cash Outflows: $160,000 to $320,000
❖ Net Cash Flow from Investing Activities: $160,000 to $320,000

FINANCING ACTIVITIES:
❖ Cash Inflows: $640,000 to $960,000
❖ Cash Outflows: $320,000 to $640,000
❖ Net Cash Flow from Financing Activities: $320,000 to $640,000

Net Increase in Cash and Cash Equivalents: $2.88 million to $3.04 million
Beginning Cash and Cash Equivalents: $3,200,000
Ending Cash and Cash Equivalents: $3,200,000

CONCLUSION AND OPINION:
Based on the audit procedures, it is concluded that Lume Capital Corporation's financial statements for the year 2023-2024 present a true and fair view of the company's financial position, performance, and cash flows. The combination of an $8 million turnover, 40% profit margin, and effective risk management strategies underscores the company's robust financial standing and commitment to sound financial practices.

While Lume Capital Corporation's financial position and performance are satisfactory, recommendations include strengthening internal control systems to further mitigate risks and enhancing financial reporting processes for accuracy and transparency.

APPENDIX:
The detailed calculations for profit and profit margin, including assumptions and methodology, are provided in the Calculation Details section (9.1). Supporting Statements (9.2) include financial statements for the year 2023-2024, offering an in-depth overview of Lume Capital Corporation's financial performance and position.

CONTACT INFORMATION:
Lume Capital Corporation
Phone: +1 (701) 829-0499
Email: contact@lumecapitalcorp.com
Website: www.lumecapitalcorp.com

MARTHA VARGAS
Lume Capital Corporation
email us here