An annual report that reveals more than just the past year
ANNUAL FINANCIAL STATEMENTS AND CORPORATE TAX RETURNS IN AUSTRIA
ambicon carefully prepares your annual financial statements, the applicable profit calculation, and the agreed-upon corporate tax returns. During the closing meeting, we clearly explain key items, address any outstanding questions, and highlight insights that are relevant for the new fiscal year.
Explained in an easy-to-understand way
Personalized support
Carefully prepared
What does a company's annual financial statement include?
Annual Financial Statements
The annual financial statements present the assets, liabilities, revenues, and expenses for a fiscal year in accordance with the regulations applicable to the company. Depending on the legal form and accounting requirements, the balance sheet, income statement, notes to the financial statements, or other components may be required. For companies that do not prepare financial statements, an income-and-expense account may be relevant for determining taxable income. Business tax returns are based on complete and reconciled financial statement data.
A successful financial year begins long before the last entry is made
Financial Statements & Tax Returns
Missing supporting documents, unresolved personal expenses, open accounts, unreconciled payroll or asset information, and last-minute inquiries make the preparation of the annual financial statements unnecessarily time-consuming. At the same time, important developments within the company go unaddressed.
A structured closing process provides clarity early on regarding documentation, responsibilities, outstanding issues, and deadlines. This transforms a mandatory task into a solid foundation for decision-making, financing, and planning.
Complete financial statements
A clear checklist outlines which documents, contracts, inventory records, bank balances, and information on assets and personnel are required.
Reconciled Accounts and Transactions
Open items are not accepted without review; instead, they are verified for plausibility and clarified to the agreed-upon extent.
A Discussion About the Results
Significant changes, notable findings, and next steps are discussed in clear, easy-to-understand language.
What services are included in the closing process?
SCOPE OF SERVICES
The scope depends on the legal form, accounting requirements, company size, industry, method of profit determination, data quality, and the terms of the engagement. Before work begins, it is determined which financial statement and disclosure obligations ambicon will assume.
Annual Financial Statements or Profit Determination
Preparation of the applicable annual financial statements or the agreed-upon tax profit calculation based on complete and reconciled documentation.
Balance Sheet and Income Statement
Preparation of the required financial statement components for companies subject to financial reporting requirements, within the scope of services covered by the audit.
Income and Expense Statement
Determination of taxable income for companies to which this method of determining profit applies.
Business Tax Returns
Preparation and electronic filing of the required tax returns, such as for income tax, corporate income tax, or sales tax, as applicable and as instructed.
Validation and Reconciliation
Reviewing apparent discrepancies, reconciling open accounts, and clarifying material financial statement information with the company.
Disclosure and Additional Filings
Preparation and/or execution of required disclosures and filings, provided they are part of the mandate and the confirmed authority.
Closing Meeting
A clear overview of key items, changes, and issues relevant to the current fiscal year.
Here's How to Prepare the Annual Financial Statements in a Structured Manner
PROCEDURE
1
Final Planning
We clarify the legal form, fiscal year, method of determining profits, required disclosures, special business transactions, and the proposed timeline.
2
Request Documents
You will receive a list of the required documents, confirmations, and outstanding information tailored to your company.
3
Reconcile accounts and transactions
Accounting, banking, cash management, fixed assets, accounts receivable, accounts payable, human resources matters, and identifiable special cases will be reconciled to the agreed-upon extent.
4
Prepare Financial Statements and Notes
The relevant financial statement components and corporate tax returns are prepared in accordance with professional standards and finalized before submission.
5
Discuss and submit the results
We explain key items, answer questions, and submit the agreed-upon materials once they have been approved.
What Makes a Well-Organized Closing Process More Effective
Advantages
Fewer last-minute requests
A document checklist agreed upon early on reduces last-minute follow-up questions and missing information.
Transparent Results
Key positions and changes are not only communicated but also clearly contextualized.
A Better Transition to the New Fiscal Year
Insights from the financial statements can be incorporated into the budget, cash flow planning, and day-to-day decision-making.
Clear Responsibilities
Companies and ambicon know who provides, reviews, approves, and submits which documents.
Reliable Documentation
Final documents, approvals, and submissions are documented as part of a defined process.
For which companies does ambicon prepare financial statements and reports?
TARGET AUDIENCES
This page is intended for companies that want to carefully prepare their financial statements, coordinate their tax obligations, and discuss the results in person.
GmbHs and Other Corporations
For companies with financial reporting, tax filing, and, where applicable, disclosure obligations.
Sole Proprietorships and Partnerships
For businesses that use applicable accounting methods or the income-and-expense accounting system and file business tax returns.
Growing SMEs
For companies whose financial statements require more coordination, attachments, human resources matters, financing, or reporting.
Companies Changing Tax Advisors
For engagements in which prior years, open periods, data as of specific dates, and responsibilities must be organized before the next financial statement is prepared.
International Companies with Ties to Austria
For companies and businesses whose Austrian financial reporting and tax obligations must be coordinated with international information.
How much does it cost to prepare annual financial statements and tax returns?
FEE
The fee depends on the legal form, method of profit determination, size, quality of bookkeeping, number of unresolved issues, required disclosures, and the desired year-end review meeting.
Consistently well-maintained and coordinated bookkeeping reduces the need for rework. Before we begin—or after an initial data review—you will receive a transparent breakdown of services and fees.
What factors determine the fee?
Legal Form, Accounting Requirements, and Method of Determining Profit
Quality and Completeness of Ongoing Bookkeeping
Number and Complexity of Open-Ended Final Questions
Required Tax Returns, Attachments, and Disclosures
Assets, provisions for personnel, foreign currencies, or international issues
Scope of the final meeting, evaluations, and additional services
A successful outcome is built on well-run processes
RELATED SERVICES
Annual financial statements and tax returns become more efficient and informative when bookkeeping, payroll processing, and consulting are coordinated throughout the year.
Tax Consulting
Assess tax issues proactively, understand available options, and prepare well-informed business decisions.
Digital Accounting
Organize complete, regularly reconciled data to serve as the basis for the annual financial statements.
Payroll Processing
Coordinate payroll accounts, annual records, and personnel-related financial statement information in a structured manner.
Trust That Can Be Demonstrated
- Dedicated Contacts
- Digital Collaboration
- Clear Communication
- Care Services in Vienna and Throughout Austria
Frequently Asked Questions About Financial Statements and Tax Returns
FAQ
Who is required to prepare annual financial statements in Austria?
This requirement depends on the legal form, accounting obligations, company size, and specific regulations. Corporations are generally required to prepare financial statements; certain sole proprietorships and partnerships may also be subject to this requirement. The specific classification is determined on a case-by-case basis.
What is the difference between a balance sheet and an income and expenditure statement?
The balance sheet is part of the double-entry accounting system and compares assets and liabilities as of a specific date. The cash basis accounting method generally determines taxable income based on operating revenues and expenses received and paid. Which method is applicable depends on the legal form of the entity and statutory requirements.
What documents does ambicon need for the annual financial statements?
Typically, the following information is required: complete accounting data, bank and cash balances, accounts receivable and accounts payable, fixed asset information, contracts, inventory records, personnel and provision data, as well as information on specific business transactions. The specific list is determined on a case-by-case basis.
Which tax returns are included in the company's financial statements?
Depending on the legal form and business activities, income tax returns, corporate income tax returns, sales tax returns, and other business-related returns may be required. The scope of returns that ambicon will handle is specified in the engagement agreement.
When must the annual financial statements be completed?
The deadlines depend on the legal form and purpose of the entity. For corporations, deadlines for preparation, approval, and disclosure under corporate law apply, among others. Tax filing deadlines may differ and may be subject to separate regulations in cases where the company is represented by an agent. A specific timeline is established for each company.
Do the annual financial statements have to be filed with the Commercial Register?
Certain legal entities, particularly corporations, are required to file financial statements with the Commercial Register. The scope and deadline depend on the legal form, size, and statutory exemptions.
Will the final decision be discussed with me?
Yes, provided that the wrap-up meeting is part of the agreed-upon scope of services. During this meeting, key points, changes, open questions, and possible next steps are clearly explained.
Can ambicon take over a financial statement that has already been started?
A takeover is possible if the current status of the data, responsibilities, preparatory work, open questions, and deadlines are clearly defined. Before giving its approval, ambicon verifies that the documentation is complete and that the necessary technical capabilities are in place.
How much does an annual financial statement cost?
The fee depends on the legal form of the business, the quality of the accounting, the scope of the financial statements, any unresolved issues, the required disclosures, and any additional services. After reviewing the initial situation, you will receive a transparent fee estimate.
Can the annual financial statements be helpful during financing discussions?
Up-to-date and transparent financial statements provide an important basis for information. However, the specific financing project determines what additional analyses, plans, or documents a bank or investor may require.
Does ambicon also serve companies outside of Vienna?
Digital collaboration generally makes it possible to serve companies throughout Austria. Before accepting a case, we review the company’s legal form, industry, data availability, and technical capacity.
Use the annual financial statements as a clear basis for decision-making
We’ll clarify your legal structure, the current status of your data, any outstanding issues related to the closing, and the required disclosures. Afterward, you’ll receive a structured plan for the next steps regarding the closing, review, and filing.
The initial consultation is intended to assess your needs. It does not constitute an acceptance of the retainer, a guarantee of a deadline, or a binding tax assessment based on the form.
