Preparation of periodic reports

The reports are the main source of information on the financial situation of the company. With periodical reports it is possible to organise financial information and analyse it quickly. The procedure of preparing periodical reports is regulated by chapters 5 and 6 of the Accountancy Act.

Periodical reports are information prepared in an appropriate form, disclosing data in accordance with the provisions of the regulation. Each financial report must comply with certain formal and qualitative requirements in order to ensure that the information contained therein is  legally complaint.

Accordingly, they should feature:

  • reliability,
  • understandability for users,
  • completeness,
  • verifiability,
  • comparability,
  • timeliness,
  • continuity.

The periodical reports can be divided into:

  • quarterly,
  • semi-annual,
  • annual.


The data source for financial statements areaccounting books. Financial reporting is subject to the legal regulations in force. Lack of knowledge on the current legal situation can lead to serious errors in the creation of reports and, consequently, to wrong decisions regarding the strategic operations of the company.

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