Monthly reporting enables the business to be managed, but the ultimate measure of success or failure comes with the annual published accounts. These are the basis on which external uses can judge the viability of the business. It is the basis on which suppliers will offer credit lines and bankers will provide finance. It is the basis on which the government determine the level of taxation and on which buyers will value the business. It is a statement that will be on permanent public record.
Given the importance of the statutory financial statements you won’t be surprised that all our professionals are kept right up to date with the latest UK and International accounting and reporting standards through regular training and professional development. Knowing what has to be disclosed, what should be disclosed and what a company may wish to keep private, may be of vital importance when a competitor is looking to gain commercial advantage or an investor is looking for a high performing investment opportunity. Accounts provide facts on which people make decisions. They are too important to be left to chance.