What is the deadline for submitting the 2022 financial statements? Which reports are included in the annual financial statements of an enterprise?
When is the deadline for submitting the financial statements for 2023?
According to the provisions of Article 109 of Circular 200/2014/TT-BTC and Article 80 of Circular 133/2016/TT-BTC, the deadline for submitting financial statements for 2023 is as follows:
For state-owned enterprises
- Accounting units must submit the annual financial statements no later than 30 days from the end of the fiscal year; For parent companies, State General Corporations, no later than 90 days;
Example: The fiscal year 2022 is from January 01, 2022 to December 31, 2022, the deadline for submitting the financial statements for 2022 is January 30, 2023, and March 31, 2023.
- Accounting units under the State General Corporation submit the annual financial statements to the parent company, State General Corporation according to the deadlines set by the parent company, State General Corporation.
For other types of enterprises
- Accounting units that are private enterprises and partnerships must submit the annual financial statements no later than 30 days from the end of the fiscal year; for other accounting units, the deadline for submitting the annual financial statements is no later than 90 days;
Example: The fiscal year 2022 is from January 01, 2022 to December 31, 2022, the deadline for submitting the financial statements for 2022 is January 30, 2023 (for private enterprises and partnerships) and March 31, 2023.
- Subordinate accounting units submit the annual financial statements to higher-level accounting units according to the deadlines set by the higher-level accounting units.
For small and medium-sized enterprises
Must prepare and submit the annual financial statements no later than 90 days from the end of the fiscal year to relevant authorities as prescribed.
Example: The fiscal year 2022 is from January 01, 2022 to December 31, 2022, the deadline for submitting the financial statements for 2022 is March 31, 2023.
When is the deadline for submitting annual financial statements for 2022? What reports are included in the annual financial statements of the enterprise?
What reports are included in the annual financial statements of the enterprise?
Based on the provisions of Article 100 of Circular 200/2014/TT-BTC, the following reports are required:
- Balance Sheet according to Form B 01 - DN issued with Circular 200/2014/TT-BTC.
- Income Statement according to Form B 02 - DN issued with Circular 200/2014/TT-BTC.
- Cash Flow Statement according to Form B 03 - DN issued with Circular 200/2014/TT-BTC.
- Notes to the Financial Statements according to Form B 04 - DN issued with Circular 200/2014/TT-BTC.
What requirements must the information presented in the financial statements meet?
According to the provisions of Article 101 of Circular 200/2014/TT-BTC, as follows:
(1) The information presented in the financial statements must reflect the true, fair view of the financial position, business performance, and cash flows of the enterprise. To ensure truthfulness, the information must have three qualities: completeness, objectivity, and no errors.
- Information is considered complete when it includes all necessary information to help users of the financial statements understand the nature, form, and risks of the transactions and events. For some items, full disclosure may also require describing additional information about quality, elements, and circumstances that might affect the quality and nature of the item.
- Objective presentation means no bias in selecting or describing financial information. Objective presentation must ensure neutrality, without focusing on, emphasizing, or reducing the impact of financial information to the advantage or disadvantage of the financial statement users.
- No errors mean there are no omissions in describing the phenomenon and no errors in the process of providing the selected and applied report information. No errors do not imply being entirely accurate in all aspects; for instance, estimating prices and values that are difficult to observe and ascertain accuracy or inaccuracy.
A presentation of an estimate is considered truthful if the estimated value is clearly described, the nature and limitations of the estimation process are explained, and there are no errors in selecting appropriate data during the estimation process.
(2) Financial information must be relevant to help users of the financial statements predict, analyze, and make economic decisions.
(3) Financial information must be presented fully in all material respects. Information is considered material if its omission or misstatement could influence the economic decisions of users based on the financial statements of the reporting entity.
Materiality is based on the nature and magnitude, or both, of the items related to the financial statements of a specific entity.
(4) Information must ensure verifiability, promptness, and clarity.
(5) Financial information must be presented consistently and comparably across accounting periods; it should be comparable among different enterprises.
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