Accounting

The income statement compares expenses and revenues of a company, resulting in profit or loss. It is part of accounting and shows operational results.

Business transactions are recorded in active and passive accounts, which capture the ongoing changes in assets and liabilities. The balance sheet, as a snapshot, shows all assets and liabilities, summarized in activated and passivized balance sheet items.

The balance sheet provides insight into the assets and liabilities of a company in order to present its financial position. Assets show how the capital is invested, while liabilities reveal the source of the capital.

Depreciation is only recognized for tax purposes if it is business-related and properly recorded. Tax authorities provide guidelines for depreciation rates to standardize.

Self-employed individuals can record tax-deductible provisions that reduce profit. A prerequisite for this is a legally regulated, business-related justification.

Economic goods are initially valued at acquisition or production costs, and later according to the lower of cost or market principle. These valuations influence the company's profit and thus income tax.

FINDEA will open a new branch in Zurich on November 1, 2014, with Dominik Tschochner as the branch manager. The branch offers a wide range of fiduciary services and is located near the Zurich Stadelhofen train station.

The annual financial statement requires compliance with legal and tax regulations. A precise checklist ensures a systematic recording of all necessary documents.

Accounting provides information about the assets, earnings, and financial position of a company and also serves planning and control. It supports decision-making and is the basis for tax calculation.