{"id":17588,"date":"2020-10-15T08:00:25","date_gmt":"2020-10-15T06:00:25","guid":{"rendered":"https:\/\/eiposgrados.com\/?p=17588"},"modified":"2020-10-15T14:29:00","modified_gmt":"2020-10-15T12:29:00","slug":"what-are-annual-accounts","status":"publish","type":"post","link":"https:\/\/eiposgrados.com\/eng\/financial-management-blog\/what-are-annual-accounts\/","title":{"rendered":"What are annual accounts"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The annual accounts are documents that compile the financial information of the company so that those responsible for it can make appropriate financial decisions and must be submitted to the Commercial Registry on a mandatory basis.<\/span><\/p>\n<p>Any company or person who has a relationship with the company and needs to know its financial situation will be interested in knowing the information in the annual accounts, since in these they can check the state in which it is located.<\/p>\n<p><span style=\"font-weight: 400;\">They are prepared every 12 months and must be signed by the administrator as a guarantee of the veracity of the information shown.<\/span><\/p>\n<h2><strong>What documents make up the annual accounts?<\/strong><\/h2>\n<p>The annual accounts are made up of a series of documents<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/eiposgrados.com\/eng\/blog\/blog-on-administrative-financial-and-accounting-management\/interpret-balance-situation\/\">Balance sheet<\/a>:<\/strong><span style=\"font-weight: 400;\"> Informs us of the asset<\/span>, it<span style=\"font-weight: 400;\"> that belongs to the company, the liability<\/span>,<span style=\"font-weight: 400;\"> What are the company&#039;s debts and net worth?<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li><strong>Profit and loss account:<\/strong> <span style=\"font-weight: 400;\">It is positioned in the <\/span>has to<span style=\"font-weight: 400;\"> all expenses and in the <\/span>to have<span style=\"font-weight: 400;\"> income. The result would be Income \u2013 Expenses = Result for the year.<\/span><\/li>\n<li><strong>Statement of changes in assets:<\/strong> <span style=\"font-weight: 400;\">It is a financial report that must be presented together with the annual accounts, that is, annually.<\/span><\/li>\n<li><strong>Statement of cash flows:<\/strong> <span style=\"font-weight: 400;\">Records all the money that enters and leaves the company.<\/span><\/li>\n<li><strong>The memory:<\/strong> <span style=\"font-weight: 400;\">It serves to expand information about the company.<\/span><\/li>\n<\/ul>\n<h2><b>Who is required to present the annual accounts?<\/b><\/h2>\n<p>All the entities detailed below are required to present annual accounts:<\/p>\n<ul>\n<li>Anonymous Societies.<\/li>\n<li><span style=\"font-weight: 400;\">Limited liability companies.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Foreign companies with a branch in Spain.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Partnerships limited by shares and mutual guarantee.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Pension funds.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Any businessman who is obliged to publish his Annual Accounts.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0Thanks to the annual accounts we can understand the reality of the organization:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Assets available to the company<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Actual financial situation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Organizational results<\/span><\/li>\n<\/ul>\n<h2>Deadlines for submitting the annual accounts of a company<\/h2>\n<p>As we have mentioned previously, the annual accounts reflect the information for the company&#039;s 12 months of the year, but when must they be presented to the Commercial Registry. Let&#039;s see below the most important dates to take into account when preparing and presenting the annual accounts:<\/p>\n<ol>\n<li><strong>Elaboration<\/strong> of the annual accounts by the administrators: <strong>March 31st<\/strong>.<\/li>\n<li><strong>Legalization<\/strong> of the mandatory accounting books: <strong>April 30th<\/strong>.<\/li>\n<li><strong>Approval<\/strong> of the annual accounts by the General Meeting of the company: <strong>June 30th<\/strong>.<\/li>\n<li><strong>Deposit<\/strong> of the accounts in the Commercial Registry: <strong>July 30<\/strong>.<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Understanding the annual accounts in addition to other financial indicators is of great importance to know the financial health of the company and make correct decisions for the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At our EIP International Business School we are specialists in training personnel for companies, being our <a href=\"https:\/\/eiposgrados.com\/eng\/master-financial-management\/\">master in Financial Management<\/a> one of the most requested, in which it will train you to meet the accounting, tax and commercial obligations to which all companies and professionals are subject.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>In this post we will show you everything you need to know about annual accounts and the importance of knowing them.<\/p>","protected":false},"author":23,"featured_media":17589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[174],"tags":[],"class_list":["post-17588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-direccion-financiera"],"acf":[],"_links":{"self":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts\/17588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/comments?post=17588"}],"version-history":[{"count":0,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts\/17588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/media\/17589"}],"wp:attachment":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/media?parent=17588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/categories?post=17588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/tags?post=17588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}