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Financial statements reflect your company’s financial health by displaying an overview of your financial activity over a specified period, usually 12 months at the close of the fiscal year.

Financial statements comprise income statements, balance sheets, statement of returned earnings and cash-flow statements.

Investors and creditors will use the information supplied in these statements and management notes to assess the viability of your company. They are also useful for you to identify seasonality, compare year-on-year growth or decline, and other such information to forecast and prepare the direction that the company will follow.

Finally, audited financial statements are submitted to SARS to declare your organisation’s income, expenses, assets, liabilities and equity.


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Added 2018-02-08 08:40:09
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