What are annual financial statements?
Definition: Annual financial statements are financial reports based on a 12-month consecutive time period. The most common set of reports issued are the general-purpose financial statements that include a balance sheet, income statement, statement of retained earnings, and statement of cash flows.
How do I find annual financial statements?
Either Financial Accountability Supplements (FASs) or Annual Financial Statements (AFSs) should be filed via the e-services portal:https://eservices.cipc.co.za/ together with Annual Returns (ARs).
Who must submit annual financial statements to CIPC?
All public and state-owned companies must file a copy of the latest approved Audited Financial Statements on the date that the annual returns are filed with the CIPC. Financial statements must comply with the published Financial Reporting Standards.
What 4 financial statements are included in the annual report?
There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity. Balance sheets show what a company owns and what it owes at a fixed point in time.
How do I find financial statements?
Financial information can be found on the company’s web page in Investor Relations where Securities and Exchange Commission (SEC) and other company reports are often kept. The SEC has financial filings electronically available beginning in 1993/1994 free on their website. See EDGAR: Company Filings.
How do I submit annual financial statements to CIPC?
Submit the Annual Financial Statements Scan and e-mail completed and signed CO-OP7 form, together with the Annual Financial Statements to [email protected], or post it to CIPC.
Who can prepare financial statements?
The business owner or company accountant or any other employee (hopefully with some accounting knowledge!) can draw up the financial statements internally. Alternatively, they can be compiled independently by an accounting professional on the basis of accounting records provided by the company.
What are the 6 basic financial statements?
They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity. Balance sheets show what a company owns and what it owes at a fixed point in time.
What 7 items must be included in the annual financial statements?
The Financial Accounting Standards Board (FASB) has defined the following elements of financial statements of business enterprises: assets, liabilities, equity, revenues, expenses, gains, losses, investment by owners, distribution to owners, and comprehensive income.
Are there annual financial statements for Sasol South Africa?
The Annual Financial Statements of Sasol South Africa Limited have been audited in compliance with section 30 of the South African Companies Act.
Who is the Audit Committee of Sasol South Africa?
Statutory duties and functions The Committee is constituted as a statutory committee of Sasol Limited in line with the Companies Act and accountable in this regard to both the Board and Sasol’s shareholders. The Committee also acts as the audit committee for certain South African companies within the Sasol group.
What makes a financial statement a material weakness?
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of financial statements will not be prevented or detected on a timely basis.