As the end of your financial year approaches, are you prepared for the legal requirement of compiling Annual Financial Statements? This service ensures your business meets its annual reporting obligations with a professional, compliant, and accurate set of financials.
What are Annual Financial Statements? A Simple Guide
Annual Financial Statements (AFS) are like a formal “report card” for your business’s financial health over a 12-month period. They consist of several key reports, including:
• Income Statement: Shows your profit or loss.
• Balance Sheet: Shows what your company owns (assets) and owes (liabilities).
• Cash Flow Statement: Shows how cash has moved in and out of the business.
These statements must be prepared according to specific accounting standards (like IFRS for SMEs) and are required by the CIPC, SARS, banks, and potential investors.
Why Choose StartupHero for This?
Our qualified accountants and registered auditors (through partners) will prepare a complete and accurate set of Annual Financial Statements in accordance with the relevant accounting standards. We ensure your business is compliant and your financials are presented professionally and accurately.
Key Features & Benefits
- ✅ Ensure Legal Compliance: Meet your annual reporting requirements for the CIPC and SARS, which is a legal necessity for all registered companies.
- ✅ Professionally Prepared: Get accurate, well-presented financial statements compiled by qualified accounting professionals.
- ✅ Be Ready for Scrutiny: An essential document for loan applications, investor due diligence, annual returns, and SARS tax filings.
Client Testimonial
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“Every year, StartupHero prepares our AFS. They are always professional, thorough, and deliver on time, which makes filing our corporate tax return so much easier.”
Frequently Asked Questions (FAQs)
Q: Is an audit included?
A: This service is for the compilation of the financial statements. An independent review or audit is a separate level of assurance that can be arranged if required by your company’s Public Interest Score.
Q: What information do you need from me?
A: We would typically require your full bookkeeping records for the financial year, such as a Xero or Sage file, or your bank statements and invoices.
Ensure your year-end reporting is professional and compliant. Let us prepare your Annual Financial Statements.
Susan W., Bedfordview –
Every year, StartupHero prepares our AFS. They are always professional, thorough, and deliver on time, which makes filing our corporate tax return so much easier.