When it comes to filing your annual financial statements in Latvia, it’s crucial to ensure accuracy and compliance. BL Grāmatvedība is your trusted partner in navigating the complexities of financial reporting.
Who is obligated to file annual financial statements?
In accordance with Latvian regulations, the following entities are required to submit annual financial statements:
Commercial companies
Cooperative companies registered in the Republic of Latvia
European Economic Interest Groupings registered in the Republic of Latvia
European cooperative companies
European commercial companies
Individual enterprises
Farming and fishing enterprises whose turnover (income) from the economic transactions during the previous accounting year does not exceed 300,000 euro.
What do annual financial statements comprise?
The annual financial statement of a company, as outlined by the Law On the Annual Financial Statements and Consolidated Financial Statements, consists of two integral components:
Financial Statement: This section includes a balance sheet, a profit or loss account, a cash flow statement, a statement of changes in equity, and an annex to the financial statement. The content and structure of this statement are carefully regulated to ensure comprehensive and accurate reporting.
Management Report: This report provides essential insights into the company’s management decisions, strategies, and performance.
It’s important to note that the law differentiates between the reporting requirements for medium-sized or large companies and small-sized companies.
Why choose BL Grāmatvedība for your financial reporting?
BL Grāmatvedība is your partner in compliance and accuracy. Our experienced team is well-versed in Latvian accounting regulations and ensures that your annual financial statements are prepared with precision and in full accordance with the law.
We understand that navigating these requirements can be complex, which is why we offer our expertise to guide you through the process. Our commitment to quality and transparency in financial reporting sets us apart as a great accounting company.
When you work with BL Grāmatvedība, you can trust that your annual financial statements will be accurate, compliant, and submitted on time, giving you peace of mind and the freedom to focus on your core business activities.
Let us handle the complexities of financial reporting so that you can keep your business running smoothly. Contact BL Grāmatvedība today to secure your financial compliance and success.
