Financial Statements

• Financial statements are prepared in conformity with the South African Statement of Generally Accepted Accounting Practice for Small and Medium-sized entities.
• Financial statements are prepared for a financial year.

Who needs Financial Statements

• Banks – in order to finance an asset.
• South African Revenue Services – it is compulsory to submit financial statements 3 months after year-end.
• Investors – in order to see if they have to invest or not.
• Owners of businesses – How well is my business doing?

                                                –  Am I on the right track?

Contact Accounting Choice for further assistance

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