Year End Accounts

The year end accounts are a statutory requirement that is well-regulated by certain accountancy standards. The accounts are prepared on the basis of a financial year, as opposed to calendar year. They provide information on the financial health and position of the firm, normally containing a profit and loss account and balance sheet. The former of these statements shows whether the company made a profit from its trade in the year, whilst the latter highlights the assets and liabilities held in the firm.

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