Basic principles of drawing up an annual accounting report

  • The entrepreneur records his property, liabilities and operations separately from the property, liabilities and operations of the owners, creditors, employees and clients of the entrepreneur:
  • When drawing up the report, it is necessary to proceed from the fact that the entrepreneur continues his activity and he has no intention to terminate the activity;
  • The published information on the report should be presented in an overview and unambiguously understandable;
  • The report reflects all important information that affects the financial condition, financial performance and cash flows of the entrepreneur.
  • Important information, the non-disclosure of which may affect the economic decisions of the reader of the report;
  • When compiling a report, the same calculation principles and presentation methods are consistently used;
  • Expenses related to the generation of these incomes are deducted from the income of the reporting period;
  • The information presented in the report must be neutral and reliable;
  • The report should be prepared in a balanced manner to avoid overestimating assets and income or underestimating liabilities and expenses;
  • The reports provide all the information that allows the reader of the report to receive efficient and reliable information about the entrepreneur;
  • When reflecting transactions, they proceed from their content also if it does not coincide with their legal form.

How we do accounting

For estonia accounting, we use our own application that simplifies and automates routine accounting processes.

The client does not need to send documents to us by e-mail, all documents for the last month are uploaded in their personal account.

You can add a comment for the accountant about these documents to the downloaded files.

For an accountant, this tool allows you to speed up the processing and input of primary documents, as well as automate the process of linking documents with a bank statement.

The application is constantly updated and more and more new functions become available to the client.

    Sääse 51, Tallinn

    Phone: +372 5665134956