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Financial Statements


Annual Financial Statements is a legal requirement and must comply with prescribed standards in accordance with the International Financial Reporting Standards (IFRS) or IFRS for SME’s.  This is a worldwide reporting tool that enables third parties such as Banks and SARS to determine how well a business has performed over a period.

Financial statements are also a tool that you, as the business owner can use to measure your business performance.  As a business owner you want to know if your business is making a profit and is solvent.  All major banks and independent lenders would require Annual Financial Statements when they consider funding in the form of either an overdraft or a business loan which can be used to either expand your business or as short term working capital.