Medium Sized Business Sense – The Need To Know

Financial Report Creation for Small and Medium Size Businesses in South Africa

Apart from statutory requirements to be met such as annual financial report submission, businesses may also need to have audited statements for the purpose of borrowing money, getting BEE exemption, and attracting investments or for the purpose of creating records for review in a business selling transaction.

Annual and Interim Statements

We help our clients with financial reporting regarding interim and annual statements required for financing and for CIDB upgrading. Small business owners often struggle with idea of having to create such statements, but not to be concerned. We will guide you through the process and will even review the company transaction history and bank statements to create accurate and comprehensive financial reports.

Reasons for Drafting Statements

When you want to sell your business, you may find that the buyers are not willing to make a purchase offer without full financial reports. One man and small family businesses often don’t have comprehensive records, and suddenly for the first time need to create such. This is where our expertise comes in and where we turn the nightmare into a complete financial statement, ensuring that you have the required statements for the selling process. Even if you only have bank statements, we will be able to work with such.

The financial statements are also needed for tax purposes and if you operated a proprietorship until now, you may not have correct reports needed. Once again, you can rely on our assistance to ensure accurate reporting.

With the new Companies Act in place, business entities such as close corporations that want to convert to the new company categories will need to get their financial reports in order. With a professional team of accounting officers ready to assist, you don’t have to be concerned with lengthy and complicated processes.

Contact Details:

: 011 492 1290
Fax: 011 492 0582

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Filed under: financial consultants