Annual Financial Statement Services
Your Trusted Partner for Annual Financial Statements.
OVERVIEW
Accurate, compliant, and timely financial reporting for growing businesses.
Annual financial statements provide users with quantitative data regarding the entity’s financial performance. Financial statements also include figures from the prior fiscal year enabling users to compare performance and financial records over two years.
WHAT’S INCLUDED
Get access to great bookkeeping and accounting professionals
Backed by best in class cloud accounting tools and technology
Why do you need Annual Financial Statements (AFS)?
Companies all need a set of Annual Financial Statements which tells a story of your company’s financial performance at a point in time (Statement of Financial Position) and also over time (Statement of Comprehensive Income) with historic information for comparison purposes.
Your country’s jurisdiction may require that AFS be drafted a few months after the end of your financial year. In South Africa, this deadline is set by the Companies Act to be 6 months after year-end. Six months may sound like a lot, but often year-end adjustments are only processed 2 to 3 months after year-end when final supplier statements are received, reconciled and provisions determined. That does not leave a lot of time for the drafting of the AFS to portray the numbers in a user-friendly format.
OUTSOURCED CFO
Why Choose Us?
Compliance & Accuracy
We ensure your annual financial statements (AFS) meet all statutory requirements, adhering to the latest financial regulations and accounting standards.
Tailored Solutions
Our financial experts customize services to suit your business’s unique needs, providing insights that help you grow and remain compliant.
Timely Delivery
We prioritize punctuality, ensuring your financial reports are prepared and submitted on time, every time.
PARTNERS
Our Clients.
SERVICES OVERVIEW
Our Comprehensive Annual Financial Statement Services Include:
Annual Financial Statements (AFS) Preparation
Our experienced team prepares your annual accounts for a limited company or private limited company with precision, ensuring compliance with all relevant regulations and standards.
Audit services and month-end closes
Need to undergo an audit? We provide comprehensive support to ensure your financial statements are audit-ready, minimizing disruptions and ensuring a smooth process.
Expert Consultation and Advisory
As your dedicated annual financial statement consultant and advisor, we provide actionable insights to help you make informed decisions based on your financial data.
Tax Compliance and Reporting
Tax Compliance and Reporting: We ensure your tax filings related to AFS are accurate and timely, helping you avoid penalties. Whether adhering to full IFRS or IFRS for SMEs, we make sure your AFS meets audit firm standards.
Under the Companies Act, many overlook the need for formal approval of AFS by directors and shareholders. We draft the required resolutions for circulation and signatures, ensuring full legal compliance.
Financial Insights and Reporting
Beyond compliance, we provide strategic insights from your AFS to guide your financial planning and growth strategies.
System transition
and projects
We assist with the year-end financial closing process, ensuring all records are up to date, and the transition to the next financial year is smooth.
By offering these services, we aim to provide complete financial clarity and support for your business’s success!
TESTIMONIALS
What Our Clients Say.
Entrepreneurs change the world. They create growth, job opportunities and social impact. We serve entrepreneurs! Hundreds of founders and management teams tap into the expertise of their trusted finance and accounting partner to help scale their companies.
Business is about people. When you partner with Outsourced CFO, a finance professional or team with the right mix of knowledge, skills and experience is personally matched with your company – working with you to create a world class finance function for your growing company. Your success story is our success story.
RESOURCES
Read Our Latest Insights.
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FAQ
Frequently Asked Questions
What happens after my AFS are compiled?
A set of AFS is also required to be submitted with your income tax return in support of the figures used to calculate your corporate tax. It is therefore very important to ensure that the AFS are correct and are prepared in time to meet not only the AFS deadline, but also the deadline to submit your income tax return.
For South African companies, this is 1 year after the financial year-end of your company.
What’s the reason behind AFS?
Financial statements are one of the tools that are used by business owners to plan, structure their operations, invest their funds and ultimately, grow their business. If you, as a business owner, are looking for funding, it is key for investors to access this important financial information to see the potential in your company by looking at the figures as it is set out in the AFS.
Investors are also more likely to invest in a company that is compliant with statutory requirements and has sound financial reporting. This is one of the important reasons to ensure that your company has AFS that are drafted timeously and accurately.
GET IN TOUCH
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