Yes, there are circumstances which require that your company prepares Annual Financial Statements, so let’s take a look at the what, when and why. The banks require them if they’re going to lend money to the company. Any other lender will require them. They may be required for a large tender. So, if they are required, what form should they take and who will prepare them? Financial statements should always be prepared to International Financial Reporting Standards, otherwise you may as well not bother. Who should prepare your yearly financial statements? Any competent accountant who has the appropriate…
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