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Financial statements

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA BT – FIA FBT › Financial statements

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Ken Garrett.
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  • March 18, 2021 at 5:37 pm #614699
    andreaskraken
    • Topics: 57
    • Replies: 30
    • ☆☆

    This is a thought in my head

    Soletraders and partnerships do not need to produce financial statements and they don’t need to be audited unlike limited companies right???

    March 19, 2021 at 8:18 am #614726
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 9977
    • ☆☆☆☆☆

    Sole traders and partnerships need FS for tax purposes and would also need them if they wanted to raise finance from outside the business. However, unlike companies, the FS do not have to be filed with the company registrar.

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