Access the free information on Company Credit Reports
Usually when thinking about financial statements, the balance sheet and the profit and loss account come to mind , but there is more, among others, the Company's Report that will give us a detailed information of the items that make up the accounts, the movement of the same throughout the year, the composition of the template or the income or loans with partners and administrators.
The analysis of the free company accounts will be of enormous help in understanding the rest of the company's financial statements. The complete Report expands and details the information contained in the other documents that make up the annual accounts. It will be formulated taking into account that the model of the Report collects the minimum information to be filled, however, in those cases in which the information requested is not significant, it will not be filled in the corresponding sections.
Since the law establishes the content of the Report, both normal and abbreviated, it is not necessary to hire an expert to carry it out. In many cases it will automatically leave the computer application where we keep the accounting or ERP of the company. Ordinary reports are only required to be presented by large companies, since due to their large volume of business, more information is necessary to know the economic situation of the company.
The Report will help us understand the "numbers" that make up each of the concepts in the financial statements. The models marked by the law relating to: balance sheet, profit and loss account, statement of changes in equity and statement of cash flows are mandatory. The lack of accurate information is a problem, given that when you want to negotiate the deferral of a client's payment, or make an advance income to a supplier, or start working in a company, we will do it blindly, assuming risks when not knowing truthfully its reality.