[Column] The Significance of Financial Statements

I would like to introduce a column article.

If it is a corporate entity, there is an obligation to prepare financial statements every year, report them to the relevant tax office and national tax authorities, and pay the necessary taxes. However, the significance of financial statements for many companies is often seen as documents to be submitted to financial institutions, isn't it? Financial institutions aim to verify and confirm the contents of loan applications with specific figures. Loan officers and relationship managers compare the information they gather with documents such as financial statements. In other words, they analyze the financial condition, business situation, and repayment ability using three periods of financial statements to determine credit risk ratings and debtor classifications. Do you know which month of the year represents the best financial condition for your company? While the best way to appeal to customers is through your own products, the most effective tool for maximizing your company's appeal in transactions with existing financial institutions and new ones is the financial statement. Most companies determine their fiscal month based on the designation of their tax accountant, and few have chosen it according to their strategic development. *For more details on the column, please refer to the related link. For further inquiries, please feel free to contact us.

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