Final accounts are a business's complete year-end financial statements: statement of financial position (balance sheet), statement of profit or loss, statement of cash flows, statement of changes in equity and notes. We prepare them from your books, ledgers or bank statements so they can be audited and used for the income tax return, bank loans and RJSC filings.
Since 2013 our team has prepared final accounts for large groups, holding companies, manufacturers, construction companies and proprietorships. Some had full ledgers in software; some had only bank statements and a few books. Both can be done; the time and the document list differ.
On this page
What final accounts include
| Part | What it shows |
|---|---|
| Statement of financial position | Assets, liabilities and equity at year-end |
| Statement of profit or loss and OCI | Income, expenses and profit for the year |
| Statement of cash flows | Where cash came from and where it went |
| Statement of changes in equity | Movements in capital and retained earnings |
| Accounting policies and notes | Explanations and schedules behind every figure |
| Fixed asset schedule | Class-wise cost, depreciation and written-down value |
Where the work starts
- Full books: review the trial balance, post adjustments (accruals, prepayments, depreciation, stock), then statements and notes
- Partial books: reconcile ledgers to the bank and fill the gaps
- Only bank statements and notebooks: analyse every deposit and payment, rebuild the books, then the statements
Want us to do this for you?
Tell us your situation on WhatsApp and we will tell you exactly what is needed and how long it takes.
Documents that hold things up most often
- Year-end balance certificates for every bank account
- Proof that share capital or owner's capital was deposited through the bank
- Twelve months of VAT returns, used to verify sales
- Party-wise sales and purchase lists
- Invoices for fixed assets bought during the year
- Twelve months of payroll sheets and details of directors' remuneration
How it connects to the audit and the tax return
A limited company's final accounts are not final until audited by an independent auditor. Audit reports and DVC are issued by an ICAB-registered chartered accountant firm, in our case a partner firm. The audited statements are then used for the company income tax return and bank loan files. For proprietorships, banks and tenders often ask for an audit report too: see proprietorship final accounts.
How it works
- Document listAfter the first conversation, a note-wise list of documents for your situation.
- Review or rebuild the booksReview the trial balance, or rebuild the books from bank statements.
- AdjustmentsAccruals, prepayments, depreciation, stock and income tax provision.
- Draft statementsStatements, notes and schedules for your review, with a list of questions.
- Audit and finalisationAnswer the auditor's queries and finalise the statements with DVC.
Frequently asked questions
How long does it take?
With complete books, usually a few weeks. Starting from bank statements alone takes longer because every transaction needs an explanation. We give a written timeline after seeing the documents.
Can several years be done together?
Yes. Each year gets its own statements, and each year's closing balances are the next year's opening. See backlog accounting.
Do you issue the audit report as well?
The audit report is issued by our ICAB-registered partner firm. We prepare the statements and every audit document so the audit goes quickly.
Which reporting framework is used?
For limited companies, IFRS as adopted in Bangladesh and the Companies Act 1994. For small proprietorships, a simpler format that meets the bank's and tax authority's needs.
Talk to us about your accounting work
The first conversation is free. You get a written price and timeline before any work starts.
Related pages
Audit preparation and coordination
Trial balance clean-up, reconciliations, confirmations, schedules and every audit document.
ServicesAudited accounts with DVC for bank loans
Audited statements with DVC for a loan, renewal or higher limit, from books to audit.
ServicesFinal accounts and audit report for sole proprietorships
Balance sheet, income statement, notes and audit report for sole proprietors.
ServicesBacklog accounting: several years of missing books
Several years of missing books, trial balances and final accounts together.
GuidesCompany audit report: sample structure and each part explained
Parts of an audit report, the four opinion types, DVC and what banks check.
Written by the EOMS Hisab accounts team. Last reviewed: . Bangladesh rules change with each Finance Act, SRO and circular. Check rates and thresholds against the latest official source before relying on them.