The Financial Statements are a set of accounting documents that every company is required to prepare at the end of each administrative period, which runs from 1 January to 31 December.

The Financial Statements are drawn up by the directors, in accordance with the law, in order to control the financial situation of their company – and its economic result – and to make it known to shareholders and creditors.

Consolidated Financial Statements are a set of accounting documents relating to a group of companies: in practice, a set of companies controlled by a primary parent company. The Financial Statements must be drawn up by the directors of the parent company and must be approved by 30 September of the year following the reference year.

The National Accounting Principles are a series of fundamental regulations issued by the OIC (Organismo Italiano di Contabilità) for the correct preparation of financial statements.

With the aim of standardising these regulations worldwide, International Accounting Standards (IAS) were created.

Bookkeeping is mandatory for every company and freelancer. Failure to do so or the incorrect processing of such data can result in serious penalties for the offending party, and it is therefore essential that one relies on subjects of proven competence, which would result not only in total security, but also in considerable relief from work and worries.

The keeping of certain Books and Records is also mandatory under the Civil Code and/or tax regulations, including Presidential Decree No. 600/73 and Presidential Decree No. 633/72. The obligation concerns the Book of Accounts, the Inventory Book and any other accounting entries that are required by the nature and size of the business.

If the business/professional decides to use a consultant to keep the accounts, the person legally becomes the Depositary of the accounting records.

The preservation of tax documents also concerns computerised documents such as electronic invoicing. It therefore requires complex IT tools that guarantee not only archiving but also the preservation of legal value (integrity, authenticity, legibility). Optical replacement archiving is a process of digitising documents that were originally analogue (in practice paper or scanned). This also applies to Minimum Taxpayers who have received an invoice via PEC or Recipient Code. If received in paper mode or with Recipient Code “000000”, they can be stored in paper mode.

Simplified Accounting applies to so-called ‘minor’ enterprises such as sole proprietorships, partnerships and non-commercial entities. By applying this accounting you can benefit from certain tax advantages.

Ordinary Accounting, on the other hand, concerns corporations and companies that exceed a certain annual turnover ceiling. These are obliged to keep accounting records, as we have explained.

• Implantation of accounting systems and organisation of bookkeeping at the customer’s premises, setting up stock accounting.

It is possible, at the customer’s request, to set up an organisation and bookkeeping system at the customer’s premises. This would entail the supply and use of management software , as well as the training of those involved.

It is possible, at the customer’s request, to set up an organisation and bookkeeping system at the customer’s premises. This would entail the supply and use of management software, as well as the training of those involved.