Preparing year-end financial statements is currently a difficult problem for newly established businesses or small and micro businesses due to lack of practical knowledge about accounting operations and tax laws, leading to over-declaration. Monthly, quarterly and annual tax reports have many errors, especially when additional tax declarations arise, resulting in the business's year-end financial statements missing documents and books, and this is a big risk. when it comes time for tax inspection and finalization.

Understanding the difficulties of businesses, the CPA company provides year-end financial reporting services, completing accounting books for businesses, and providing data to tax authorities when making final settlement decisions..

WHAT ARE FINANCIAL STATEMENTS ?

Financial reports are the economic and financial information system of an accounting unit, presented according to forms prescribed in accounting standards and accounting regimes. Financial reports help provide information about the financial situation, business and cash flows of an enterprise. According to the law, all enterprises belonging to the industry and economic sectors must prepare and present annual financial statements. For companies (corporations) with affiliated units, in addition to the annual financial statements, they must have a consolidated (consolidated) financial statement at the end of the annual accounting period, based on the financial statements of the affiliated units.

PRICE LIST OF FINANCIAL REPORTING SERVICES.

For different industry groups and different digitization, there will be different price lists for financial reporting services. Below is the detailed price list of CPA.

When customers use our full accounting service, they can be completely assured about year-end financial reporting issues because CPA provides full customer support.

WHAT DO CUSTOMERS NEED TO PROVIDE WHEN MAKING FINANCIAL REPORTS

In order for a CPA to prepare the most complete and accurate financial reports, customers need to provide the following profile information:

1. Contracts and invoices for purchasing goods and services;

2. Contracts and invoices for sale of goods and services;

3. Enterprise invoices were incorrectly issued, canceled, or revoked during the declaration period;

4. Contracts for which money has been collected and paid but no invoices have been issued or invoices have not been received during the declaration period.

5. Fee payment vouchers, fees, and other documents do not contain VAT;

6. Labor identity card;

7. Employee payroll for the months in the declaration period (payroll for insurance submission);

8. Documents for payment of social insurance for employees;

9. Statements of bank accounts arising during the declaration and payment authorization period;

10. Loan and debt repayment documents arising during the declaration period;

11. Confirm year-end debt with suppliers and customers.

FINANCIAL REPORT SUBMISSION TIME AND PENALTIES REGULATIONS

Time to submit annual financial statements

Accounting units must submit annual financial reports no later than 30 days from the end of the annual accounting period, for parent companies and state-owned corporations no later than 90 days.

Note: The annual accounting cycle is 12 months, from the beginning of January 1 to the end of December 31 of the calendar year.

Accordingly, for 2022, the latest time to submit financial reports is March 31, 2023. Accounting units need to remember the time to submit annual financial reports to businesses to avoid penalties that cause damage to businesses.
Penalty for late submission of financial reports

According to Decree 41/2018/ND-CP on sanctioning administrative violations in late submission and incorrect submission of financial reports as follows:

Late submission, delay in publicizing financial statements less than 3 months compared to the prescribed deadline, submitting financial statements without sufficient content as prescribed, accounting incorrectly according to accounting account regulations will be fined from 5,000,000 - 10,000,000 VND.

Late submission or disclosure of financial statements for 3 months or more compared to the prescribed deadline, failure to attach audit reports when submitting financial statements and when disclosing financial statements (for prescribed cases) will be fined from 10,000,000 – 20,000,000 VND.

Publicized financial statements data that are inconsistent with accounting data and accounting documents, cases of agreement/coercion to provide information, accounting data that are factually incorrect or falsification of financial statements will be fined from 20,000 VND. 000 – 30,000,000 VND.

CPA'S JOB WHEN RECEIVING FINANCIAL REPORTS

• Collect invoices, documents, and business books;
• Collect information about applicable accounting regimes, forms, and depreciation methods for fixed assets;
• Survey the actual situation and operating procedures of the business;
• Review documents, accounting books, classify and arrange documents;
• Eliminate and adjust inappropriate documents;
• Prepare tables for allocating tools, equipment, prepaid fees, and pending transfer fees;
• Check salary costs, health insurance, social insurance...; Calculate and prepare depreciation tables for fixed assets;
• Accounting on professional accounting software;
• Discuss with the business the contents and operations related to implementation results;
• Transfer and synthesize information to prepare accounting books, business results, and financial statements;
• Advise businesses on relevant contents during the synthesis process to prepare financial statements…
• Print financial reports and accounting books according to regulations.

REASONS TO CHOOSE A CPA TO DO FINANCIAL REPORTING.

Businesses that are having difficulty preparing year-end financial statements should choose and contact a CPA immediately. We will bring the following benefits to the business:
- With a team of experienced experts assisting in preparing financial reports, helping businesses resolve the year-end financial reporting situation quickly and accurately..

- Helps businesses save maximum costs compared to hiring accountants to do related work.
- Ensure timely submission of financial reports and we take full responsibility for the data that the CPA prepares.
- All accounting data will be done in the clearest, most transparent and accurate way by CPA's team of experts.

Customers need advice on CPA's financial reporting services or contact 19000380 to receive advice and support from leading experts in the field.