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Annual financial statement

Annual financial statement is a report that is developed and published by companys management to show companys performance and financial data to the creditors, banks, partners and investors. It is one of the basic tasks of financial bookkeeping as a whole. Seeing this report, investors and creditors can learn everything about companys profitability and assets as well as get acquainted with other relevant information that may indicate companys capability of making investments or taking loans.

Complexity level of annual financial statement

Preparation of financial statement can be straightforward and easy, but at the same time it can be quite challenging for many inexperienced accountants. The complexity level of preparing the financial statement mostly depends on:

For Trading Companies:

For Holding Companies:

Confidus Solutions team of qualified bookkeepers and lawyers will consult you regarding complexity level of your accounting. We can prepare financial statements for your company as well as any other accounting document check F.A.Q. section or EU member states), the financial year ends on December 31st. Other jurisdictions may have different approaches, since the financial year may end in different periods, depending on the registration date of the company, e.g., (in Singapore, the United Kingdom, Hong-Kong and others);

  • Timeframes to file the annual reports. Depending on the jurisdiction, the timeframe for submission of the annual report may vary from just few months up to a year: 3 months in Bulgaria and in Singapore; 4 months in Latvia, up to 12 months on Cyprus, or up to 8 months in the UK;
  • Requirements for audit. Note that in some countries every company must submit audited report (Cyprus, Singapore, Hong-Kong, Ireland). While in other countries companies may prepare an audited report voluntarily or, if they reach certain criteria (read further about Audit).

    Confidus Solutions

    Confidus Solutions will help you evaluate all possible options and choose the most efficient unique solution to achieve your personal goals! We have many years of expertise in this industry and experienced lawyers and bookkeepers, who can take care of your companys bookkeeping in any jurisdiction worldwide! If you require more information check our offered solutions or contact us to get a unique offer!

    Read further:

    Order tax reporting services: Annual Financial Statement

    Financial inspection explained: Audit

    Core principles of legitimate tax reporting: VAT reports

    Hire an accountant for your offshore company: Offshore bookkeeping