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Annual financial statement

Annual financial statement is a report that is developed and published by company's management to show company's 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 company's profitability and assets as well as get acquainted with other relevant information that may indicate company's 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 ask us now!

Preparing annual financial statement

Drafting annual financial statements can be both an easy and a complicated task. It all depends on the size of your business and the number of monthly transactions. There are financial statements, which do require footnote disclosures. On the other hand, there are financial statements, which are presented without any footnotes.

There may be different purposes for the statements. For example, normally your bank will be satisfied to see some basic financial figures in order to make sure your company is able to settle debts.

Financial statement or report is usually prepared by transferring account trial balances to a set of templates, appropriate for accounting laws of specific country.

Specific requirements for annual financial statements in different jurisdictions

Today the majority of year-end financial statements are made in full accordance with generally accepted accounting principles (GAAP). However, you should always consider the specific requirements for the chosen jurisdiction. For example:

We highly recommend checking up local national legislation prior to drafting or submitting annual report, as in different jurisdictions requirements may slightly vary. You can also ask our bookkeepers for detailed information - click here to know more.

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 company's bookkeeping in any jurisdiction worldwide! If you require more information - check our offered solutions or contact us to get a unique offer!

Read further:

Audit is often one of the toughest challenges for most of the businesses. Our accountants and auditors shall explain the essence of the auditing, prepare your company for external audit and even perform internal audit, if required: Audit

Tax and VAT reporting are extremely relevant for any company, as the tax administration often pays extra attention to VAT taxation and distibution. If your company is dealing with international trade or trade within EU - our accountants and tax specialists will help you understand and apply VAT correctly: VAT reports

Offshore companies are often easier to manage due to simplified bookkeeping and taxation within domicile jurisdiction. However, offshore bookkeeping may be quite challenging when doing business or performing transactions with other jurisdiction. Our accountants will ensure your international business runs smoothly: Offshore bookkeeping