Turnaround
2 weeks
Requirements
• Complete Financial Records: A full trial balance for the financial year.
• Supporting Documents: Bank statements, asset registers, and loan statements for the full period.
Process
1. Data Collection: You provide us with your full year’s financial records (trial balance, bank statements, etc.).2. Compilation: Our accountants compile the formal Annual Financial Statements in accordance with accounting standards.3. Review & Signature: We send the draft AFS to you for review and approval by the directors.4. Finalisation: A registered accounting officer signs off on the final statements.
FAQ
Is it mandatory for my small company to have AFS?
Yes, the Companies Act requires all registered companies, regardless of their size or whether they are trading, to have Annual Financial Statements prepared each year.
What is the primary use of AFS?
They are used to calculate your company’s income tax liability for your annual tax return to SARS. They are also required by banks for financing and by investors for due diligence.
In-depth analysis to prove your business model’s viability, manage liquidity, and prepare for funding applications. Includes:
✅ Compilation of AFS by a registered SAIPA accounting officer.
✅ Includes Income Statement, Balance Sheet, and Cash Flow Statement.
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