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Final accounts
FINAL ACCOUNTS

Definition: (plural) (finance) The accounts produced by a business, usually at the end of each year, that show the financial situation of the business.
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* All six elements should be in.


1. Purposeful and necessary to prepare the particular accounts.

2. Properly and/or professionally prepared (connect to #3).

3. Complete and current as required by law or regulation.
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See perfect PROFIT AND LOSS ACCOUNT.



4. Endorsed, sealed, approved, registered, etc. by the rightful official(s) and/or with the relevant regulatory organ or authority.

5. Will be confirmed or adjudged to be correct and in order by the auditors and regulators, investors and shareholders, etc.

6. Details contained in documents will be determinable or verifiable. That is, the assets and liabilities will not be mere book entries.
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See perfect BALANCE SHEET.

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