Annual financial statements (year-end accounts) are a compulsory requirement in New Zealand. However, many business owners fail to see the value in them and often don’t look at them with the right set of eyes.
Business owners find them a hassle to do and often believe they are just another piece of paper that they need to complete. This is however not the case. Financial statements can be a very useful tool to see how your business is doing on a yearly basis.
Let us briefly explain the key points as to why they are important!