Planning and making strategic business decisions is crucial to the survival and growth of your business. You need financial statements to see how your business has performed and to help you in your decision-making process. We help you to compile your annual financial statements to comply with the accounting principles of IFRS and IFRS for SME. We even interpret the figures for you so that you understand completely how you have fared, which will equip you to make important decisions.
All registered businesses are required to compile financial statements each year. Apart from this legal requirement, there are numerous other reasons why companies benefit from compiling financial statements:
- It helps business owners to see how they have performed during the year.
- Current and potential investors can see the health of the business, which will assist them in deciding whether they should invest or not.
- To apply for an overdraft or a loan, banks request financial statements to see whether the business can afford credit.
- SARS requires tax returns to be accompanied by annual financial statements.
We provide compilation services as part of all our cloud accounting packages, but also offer it as a standalone service. Contact us to discuss the options available to you.