Compilation Of Annual Financial Statements For Medium Businesses
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Financial Statements are a key tool businesses use to plan, structure, invest and grow. They provide high-quality, understandable and globally accepted financial reports for the position and performance of a business.
Per the South African Companies Act, all companies are required to produce Annual Financial Statements (AFS) each year within 6 months after the end of their financial year.
Small to Medium-sized entities often require financial statements:
- As part of the application for financing and overdraft facilities
- If an investment opportunity presents itself the financial statements will form part of the due diligence process
- Simply for owner’s use
- Compliance
Remote AFS will collect your financial information and compile the financial statements for medium sized businesses in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities ( IFRS for SME’s) framework.
South African Section 90 Companies requires independently compiled financial statements where auditors are disqualified from preparing financial statements.
We have positioned ourselves as the provider of choice through the development of a seamless reporting process and assisting in practical application of reporting framework, with experience from medium to listed-entity financial statements.
We are also able to convert the financial statements in XBRL format for submission to the Companies and Intellectual Properties Commission (CIPC).
Affordable price plans
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Pricing plans
General Information: Directors' Responsibilities: Company Secretary: Directors' Report: Independent Auditor's Report: Accounting Officer Report: Statement of Financial Position: Statement of Comp. Income: Statement of Changes in Equity: Statement of Cash Flows: Accounting Policies: Notes: Detailed Income Statement: Delivery time: -
Pricing plans
Basic
R18,390.00
Maximum annual turnover is R85m. Up to 250 employees.
General InformationDirectors' ResponsibilitiesCompany SecretaryDirectors' ReportIndependent Auditor's ReportAccounting Officer ReportStatement of Financial PositionStatement of Comp. IncomeStatement of Changes in EquityStatement of Cash FlowsAccounting PoliciesNotesDetailed Income StatementDelivery time 7 Days -
Pricing plans
Standard
R22,651.00
Maximum annual turnover is R170m. Up to 250 employees.
General InformationDirectors' ResponsibilitiesCompany SecretaryDirectors' ReportIndependent Auditor's ReportAccounting Officer ReportStatement of Financial PositionStatement of Comp. IncomeStatement of Changes in EquityStatement of Cash FlowsAccounting PoliciesNotesDetailed Income StatementDelivery time 7 Days -
Pricing plans
Premium
R25,117.00
Maximum annual turnover is R220m. Up to 250 employees.
General InformationDirectors' ResponsibilitiesCompany SecretaryDirectors' ReportIndependent Auditor's ReportAccounting Officer ReportStatement of Financial PositionStatement of Comp. IncomeStatement of Changes in EquityStatement of Cash FlowsAccounting PoliciesNotesDetailed Income StatementDelivery time 7 Days
Additional services
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Consolidation
Financial Statements can be separate per entity or consolidate the statements of a number of entities. Consolidated financial statements are financial statements that present the assets, liabilities, equity, income, expenses and cash flows of a parent and its subsidiaries as those of a single economic entity.
R15,000.00
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XBRL Report
iXBRL is a global digital reporting standard for exchanging business information for financial reporting.
As of 1st July 2018, the CIPC (Companies and Intellectual Property Commission) has made it mandatory for qualifying entities in South Africa to submit their Annual Financial Statements (AFS) in an iXBRL (Inline eXtensible Business Reporting Language) format.
The CIPC is also encouraging all entities in South Africa to realize the benefits of iXBRL reporting to improve the quality of their Annual Financial Statements (AFS) through CIPC’s comprehensive business validation rules.
R2,500.00
Fequently asked questions
What are Financial Statements?
Financial Statements are a key tool business owners use to plan, structure, invest and grow. They provide high-quality, understandable and globally accepted financial reports for the position and performance of your business.
When should Financial Statements be prepared?
Per the South African Companies Act, all companies are required to produce Annual Financial Statements (AFS) each year within 6 months after the end of their financial year.
Why are Financial Statements required?
Small to Medium-sized entities often require Financial Statements: (1) As part of the application for financing and overdraft facilities (2) If an investment opportunity presents itself, the Financial (3) Statements will form part of the due diligence process Compliance with tax and CIPC statutory submission requirements (4) Simply for owner’s use.
What are get when you place an order?
Our professional Chartered Accountants at Remote AFS™ will: (1) Collect your financial information (2) Compile your Financial Statements using the IFRS for SMEs framework (3) Convert your Financial Statements in XBRL format to submit to the CIPC.
What assurance do you give provide?
(1) Quality reports (2) 100% on-time delivery (3) Unlimited revisions until you are satisfied.