Statutory financial statements are those that a business is required to prepare by law. This basically comes down to their annual accounts, which companies must prepare in a format specified by law and accounting standards, file with whichever government body they must be filed with, and give to all their shareholders. As a public document, companies will usually give these away free or for a small charge to anyone else, too. Large companies publish them as part of a big glossy annual report, full of corporate-speak and photos to say "look at what we've done!" (I hate corporate-speak... it is entirely meaningless and tends to make every company's annual report look exactly the same, whatever business they are actually in. Next time I hear anyone say "create value" or "going forward" I will be sorely tempted to hit them.)
Non-statutory financial statements would be anything else. A well-run company should, for example, be preparing management accounts at least once a month to keep the board informed of how well things are going. If they show that things are not going well, then the accounts could give some clues as to why and help the board decide what to do about it.
Statutory financial statements are those that a business is required to prepare by law. This basically comes down to their annual accounts, which companies must prepare in a format specified by law and accounting standards, file with whichever government body they must be filed with, and give to all their shareholders. As a public document, companies will usually give these away free or for a small charge to anyone else, too. Large companies publish them as part of a big glossy annual report, full of corporate-speak and photos to say "look at what we've done!" (I hate corporate-speak... it is entirely meaningless and tends to make every company's annual report look exactly the same, whatever business they are actually in. Next time I hear anyone say "create value" or "going forward" I will be sorely tempted to hit them.) Non-statutory financial statements would be anything else. A well-run company should, for example, be preparing management accounts at least once a month to keep the board informed of how well things are going. If they show that things are not going well, then the accounts could give some clues as to why and help the board decide what to do about it.
การแปล กรุณารอสักครู่..
