I asked my accountant for a "monthly report" — is that the same as financial statements?

Management accounts are an internal report, usually monthly or quarterly, meant to help you decide — which service is actually profitable, whether cash flow covers next month, whether one department's costs have crept up. They don't need to follow a strict accounting standard, just be accurate and fast.

Formal financial statements (income statement, statement of financial position, cash flows) are a formal annual document following IFRS, submitted to a bank, an investor, or as part of the Corporate Tax file, and sometimes required to be audited. Confusing the two means an owner waits for the formal annual statements to make a monthly decision — which is far too late. RASEEKH gives you both: a fast monthly report you can act on, and formal annual statements you can stand behind in front of any party.