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Annual Accounts
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Reference: JN-29-E
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Number of pages: 10
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Publication Date: Nov 15, 2012
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Source: IESE (España)
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Type of Document: Technical Note
Description
This note describes the legal obligation of every corporation's management to prepare its annual accounts, which must then be submitted for approval by the general assembly of shareholders and subsequently filed for recording in the Commercial Registry. The note further details the documents included in the annual accounts and the legal requirements that must be met.
Learning Objective
The annual accounts constitute a legal instrument of prime importance for companies and are subject to strict legal norms. Through this technical note, students will learn about which documents are included in the annual accounts, the legal time frames for their preparation, approval and filing, and the conditions under which companies are obligated to undertake an external audit. This text is suitable for any course on corporate governance.