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Small business accountants in Melbourne explain what annual reports are

What is an annual report? It is a report created annually that provides an analysis and assessment of the financial trends of your business over that financial year. Our small business accountants in Melbourne will go into some detail regarding annual reports.

What does and annual report generally consist of?

  • A description of all accounting and bookkeeping activating seen within the report
  • Information about events or gatherings that have had an impact on the company’s accounting throughout the year
  • A statement from managing showing where the business currently stands from an economic point of view and the business’ development
  • Only if it applicable, an auditor’s report will be present

Just bare in mind though that not all businesses need an annual report. It depends on the current legal form and size of the business and when determining if you need an annual report our small business accounting services Melbourne are just a call away.

Annual reports are generally an overview of how your company is doing financial and is a good scope to see which areas do need improvement. Our small business accountants in Melbourne are experts at collating annual reports so you don’t have to worry about them.