Annual Report preparation

Annual report, Consolidation of simplified annual report

Significant part of the bookkeeper offices sets the creation of the reports to the date stipulated by the law (end of May). Considering that the data of the Balance and Profit and Loss Statement can be defined as the baseline for the next year(s), thus containing the essential figures for planning, the yearly closure activities are performed by us in line with the commonly developed Accounting Policy.

The report data – with cooperation of an auditor on demand – is submitted to the company boards for approval, and only after obtaining we submit it to the authorities. The involvement of the business management and the boards in these procedures is inevitable.

Closure activities in the accountancy:

During the reporting process, we perform the following tasks:

  • the year-end closing items are booked,
  • the inventory, stock and its differences are booked,
  • receivables and liabilities are cross-checked,
  • in accordance with accounting rules and accounting policies, we prepare a yearly valuation for the relevant balance sheet items
  • we calculate the foreign currency revaluation,
  • determining and accounting for accruals at the end of the year
  • determining the local business tax base, share it among the premises and calculate the yearly tax,
  • determining the innovation tax base and calculating the tax,
  • determining the corporate income tax base and calculating the profit tax,
  • we make proposals for legal tax saving opportunities,
  • if required, we will take part in the meeting on the result meeting, at the general assembly,
  • we book the distribution of profit,
  • compile and deposit the annual report (simplified annual report),
  • preparing all yearly tax reports and submit to the authorities,