Start with a year-end closing plan

Determine the responsible, the dates of submission of documents and issues that require a management decision. annual financial statement composition, test requirements and deadline depends on the legal form, company category and reporting year.

Reconcile account balances

  • bank, cash and payment card balances;
  • receivables and payables;
  • inventories and inventory results;
  • fixed assets, depreciation and disposal;
  • tax balances EDS;
  • wages, vacation savings and settlements with employees.

Collect management information

The accountant must receive timely information about legal proceedings, guarantees, loans, related companies, events after balance sheet date and planned continuation of operations. Not everything can be done determine only from bank statement or invoices.

Filing

The annual financial statement is submitted electronically VID EDS. VID received the report is submitted electronically to the Register of Enterprises. annual financial statement the submission deadline cannot be extended, therefore internal work the schedule should be made with a margin of time.

For management

Read more than just the P&L before you approve calculation, but also the balance sheet, appendix and those provided by the management confirmations.

Inventory is not just a formality

During the inventory, not only the physical inventory should be checked quantity, but also their condition, realization possibilities and book value. Accounts receivable should be evaluated according to recoverability, but long unreconciled balances should be investigated before review preparations.

If the company has loans, leases or guarantees, for accounting current contracts and payment schedules are required. Must check breakdown of liabilities into short-term and long-term parts, interest accruals and fulfillment of contractual terms.

Final check before submission

  • compare report figures with ledger and tax declarations;
  • check benchmarks and appendix references;
  • obtain management approval for material assessments;
  • make sure all required ingredients are added and signatures;
  • save proof of submission of EDS.