FAQ

What are company accounts?

Company accounts are financial statements that provide information about the financial performance of a company. They include a balance sheet, income statement, and cash flow statement.

Why are company accounts important?

Company accounts are important because they help investors, creditors, and other stakeholders understand the financial health of the company. They are also necessary for tax and regulatory purposes.

Who is responsible for preparing company accounts?

The directors of the company are responsible for preparing the company accounts. They may delegate the task to an accountant or accounting firm.

What is the deadline for filing company accounts?

The deadline for filing company accounts depends on the jurisdiction and the size of the company. In the UK, for example, small companies have 9 months from the end of their accounting period to file their accounts, while large companies have 6 months.

What information is included in company accounts?

Company accounts include a balance sheet, which shows the company’s assets, liabilities, and equity; an income statement, which shows the company’s revenue and expenses; and a cash flow statement, which shows the company’s cash inflows and outflows. They may also include additional notes and disclosures.