Which information must be provided in the appendix to the annual financial statements?
March 23, 2023 | 40,00 EUR | answered by Louis König
Dear tax advisor,
I am Franceska Schottmann and I run a small business. In the past, I have always prepared my annual financial statements myself, but I have never delved deeply into the requirements for the appendix. Now I am faced with the challenge of making the information in the appendix to the annual financial statements correctly and completely in order to avoid possible errors.
Currently, I lack an understanding of which specific information must be included in the appendix to the annual financial statements and which information is relevant. I am worried that I might overlook important aspects and thereby create errors in my annual financial statements that could potentially lead to legal consequences.
Could you please explain in detail which information must be included in the appendix to the annual financial statements and what information should be contained therein? Are there specific legal requirements or guidelines that I need to follow? What possible solutions are there to ensure that my annual financial statements and the corresponding appendix are correct and complete?
Thank you in advance for your support and advice.
Sincerely,
Franceska Schottmann
Dear Mrs. Schottmann,
Thank you for your inquiry regarding the information in the appendix to the annual financial statements. It is important that this part of the annual financial statements is correct and complete, as important information about your company is provided here. Generally, legal requirements and guidelines must be followed in the appendix to the annual financial statements to avoid potential errors.
Mandatory information in the appendix includes, among other things, details on accounting and valuation methods, information on the accounting principles used, details on valuation bases, explanations on intangible assets, total amount of liabilities, and information on financial obligations.
Furthermore, the appendix should also include information on the company structure, significant shareholdings, details on shareholders' interests, information on executive compensation, and details on potential risks and opportunities. It is important that all relevant information is transparently presented to avoid potential legal consequences.
To ensure that your annual financial statements and the accompanying appendix are correct and complete, I recommend consulting a professional tax advisor. An experienced tax advisor can help you comply with legal requirements and guidelines and ensure that all relevant information is included in the appendix. Additionally, a tax advisor can assist in identifying and correcting potential errors before legal consequences arise.
I hope this information is helpful to you and I am available for any further questions you may have. Thank you for your trust and support.
Sincerely,
Louis König
