What is an annual financial report?
The annual financial report gathers full information about the financial position of the company. It includes a statement for revenues and expenses, a balance sheet, a statement for share capital and a cash flow statement.
The financial report is drawn up for one financial year, coinciding with the calendar year – from January 1st to December 31st. E.g: If you have a company created on 01.12.2020, you need to submit a report on the activity carried out in 2020 – in this case only one month.
Who is obliged to announce an annual financial report?
All the traders according to the Bulgarian Commerce Act – this includes Limited Liability Companies (Ltd.), Limited Partnerships, General Partnerships, Joint-Stock Companies, Limited Partnerships with shares. The non-profit legal entities and the rest enterprises are also obliged. Continue reading “Announcement of an annual financial report”