Description

What is an Annual Account? Company accounts are a description of the financial performance of an organisation for 12 months. Every year, they are prepared for filing income tax returns and consist of a balance sheet, profit and loss statement, and cash flow statement.

What are a company’s annual accounts? Company accounts are a summary of an organisation’s financial activity over a 12 month period. They are prepared for Companies House and HM Revenue & Customs every year and consist of the Balance Sheet, the Profit and Loss Statement, and the Cash Flow Statement.

Limited companies. For limited companies, the financial year runs from 1st April one year to 31st March the following year. … The accounting year end is the date that a limited company chooses to prepare its accounts to every year.

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.