Filleted accounts and Filleted financial statements: Difference between pages
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Filleted | Filleted financial statements are accounts which contain less information than full accounts. | ||
Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations. | Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations. | ||
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Also known as filleted accounts. | |||
Revision as of 10:38, 9 February 2017
Filleted financial statements are accounts which contain less information than full accounts.
Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations.
However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders.
Also known as filleted accounts.
