Furthermore, information is reliable when it is free from material errors and is neutral, i.e. free from bias, and users can trust that it is a true image of what it purports to represent.
9 points to correctly formulate annual accounts
A good accounting program that guarantees that no errors occur and facilitates the presentation of annual accounts is a very important point.
Having good accounting philippines phone lookup professionals is a key factor. Cost savings that involve a decrease in the quality of accounting information can be very expensive, as it can involve contingencies with the Tax Agency or paying more taxes than necessary. Having a good accounting professional can be an important factor in the success of a company, since, in addition to fulfilling the commercial obligations of submitting accounts on time and in the correct manner, it means having reliable information that is key for decision-making .
To ensure that the accounting reflects a true image and is free of errors, we can create a checklist to verify that there are no errors and that all entries have been correctly recorded.
Updating legislation that may affect the company's accounting. For example, in view of the closing of the 2015 financial year, there are new amortization tables , which must be known and applied.
Submit the annual accounts in the established time and form. There is a period of six months from the end of the financial year for the censure of the company's management, approval, if applicable, of the annual accounts and to decide on the application of the result.
Once this call has been made, the company's information begins to be public since any shareholder may obtain from the company, immediately and free of charge, the documents that must be submitted for approval, as well as, if applicable, the management report and the report of the
auditors. Within the month following the approval of the annual accounts, certification of the agreements of the general meeting approving the annual accounts and the application of the result, as well as, if applicable, the consolidated accounts , to which a copy of each of these accounts will be attached, as well as the management report and the auditors' report, when the company is obliged to have an audit or this has been carried
out at the request of the minority, will be submitted for deposit in the Commercial Registry of the registered office. If one or more of the annual accounts have been prepared in an abbreviated form, this shall be stated in the certificate, stating the reason ( article 279 of Royal