Are there any special features when preparing an annual financial statement for a GmbH (limited liability company)?
April 4, 2022 | 40,00 EUR | answered by Fanni Ehrig
Dear Tax Advisor,
I am the managing director of a GmbH and currently facing the challenge of preparing the annual financial statements for my company. Since I have little experience in this area, I am unsure if there are any specific considerations I need to keep in mind when preparing the annual financial statements.
Regarding the current situation: Our GmbH was founded two years ago and we have experienced solid growth during this time. We have been maintaining regular accounting records and are well-organized, however, I lack the expertise to prepare the annual financial statements without assistance. I want to ensure that all legal requirements are met and no errors are made.
My concern is that I may overlook important details or misinterpret them, leading to legal consequences. Therefore, I would be very grateful if you could provide me with some tips on what to consider when preparing the annual financial statements for a GmbH. Are there any specific regulations or legal requirements that I need to adhere to? What documents and records are necessary for the preparation of the annual financial statements? Are there specific deadlines that must be met?
I look forward to your support and thank you in advance for your help.
Sincerely,
Emma Schillinger
Dear Mrs. Schillinger,
Thank you for your inquiry regarding the preparation of the annual financial statements for your GmbH. It is understandable that as a managing director with little experience in this area, you may feel uncertain and want to ensure that all legal requirements are met. I am happy to provide you with some tips and recommendations to assist you in preparing the annual financial statements.
First and foremost, it is important to know that the preparation of annual financial statements for a GmbH is legally regulated. The regulations can be found in the Commercial Code (HGB) and the GmbH Act. Key legal requirements include the preparation of the annual financial statements, the obligation to publish them in the Federal Gazette, and submission to the tax office.
Various documents and records are required for the preparation of the annual financial statements. These include the balance sheet, the profit and loss statement (P&L), notes, management report, and potentially other legally required components. Additionally, all business transactions of the financial year must be properly documented and recorded in a traceable manner.
It is important that the annual financial statements are prepared in accordance with the principles of proper accounting (GoB). This includes completeness, accuracy, and traceability of the figures. Incorrect or incomplete information can lead to legal consequences, so attention to detail is crucial.
I am here to provide support and guidance as you navigate the process of creating the annual financial statements for your GmbH. Please feel free to reach out with any specific questions or concerns you may have.
Best regards,
Fanni Ehrig
