Annual accounts are financial statements that organisations prepare at the end of each financial year. These statements provide a comprehensive overview of the company’s financial performance, position, and cash flows during the reporting period.
ANNUAL ACCOUNTS
Key components of annual accounts include:
Balance Sheet: Shows the company’s financial position at a specific point in time, detailing assets, liabilities, and shareholders’ equity.
Income Statement: Summarises revenues, expenses, and profitability over the reporting period.
Notes to the Accounts: Provide additional disclosures and explanations about the financial statements.
These documents are crucial for stakeholders, such as investors and creditors, to assess the financial health and operational efficiency of the organisation.
