[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, which must be submitted to the relevant tax office and national tax authorities, and the necessary taxes must be paid. 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 gathered with documents such as financial statements. In other words, they analyze the financial condition, business performance, and repayment capacity 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 products of your company are the main appeal in transactions with customers, the most effective tool for promoting your company in dealings with existing and new financial institutions 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, feel free to contact us.

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