Preparing annual financial statements is a legal requirement for all types of businesses. But beyond compliance, accurate financial reports are valuable tools for strategic planning. 
 
A complete set of financial statements includes: 
– Statement of Financial Position (Balance Sheet) 
– Profit and Loss Statement 
– Reports of assets, liabilities, and equity 
– Cash flow statements, etc. 
 
Benefits of properly prepared financial statements: 
– Required for filing corporate income tax (Form PND.50) 
– Needed when applying for loans from banks or financial institutions 
– Useful for planning growth or cost reduction 
– Enhances credibility when dealing with business partners 
 
An experienced accounting firm ensures your financial statements meet legal and professional standards and are correctly submitted to the Department of Business Development (Forms SorBorChor.3 and BorJor.5). This gives you peace of mind and confidence in managing your business.