All about the financial statement of SMEs

We'll tell you what these instruments involve and how they can help you understand the accounting situation of your SME
The purpose of the financial statements of SMEs is to provide information on the economic and financial situation of the company in order to guarantee proper accounting management. These instruments are also called accounting statements or financial reports, and are the most important documents that reflect the financial health of a company. This article explains what financial statements consist of and how to use them to find relevant information about your company and improve decision-making.
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Financial statements are elements that make up a company's accounts and are used to assess its financial situation after each fiscal year, as well as to evaluate the changes it has undergone over a certain period, which facilitates decision-making. Because of this, it's essential that they accurately reflect the organization's economic situation and that they summarize and detail all the elements that shape the financial situation and the performance of a company, listing the income received and investment and expense items.

Components of the financial statements and annual accounts

The mandatory components of a company's financial statements are the balance sheet, the profit and loss statement, the cash flow statement, the statement of changes in equity and the report. The first four statements provide information of a financial nature, and the report provides mixed information. These five accounting statements as a whole yield a single accounting document called the annual accounts.

  • Balance Sheet: it is the most important component, offering clear information on the company's situation at a given time, since it details the organization's assets, liabilities and equity at the time when the balance sheet is prepared.
  • Profit and loss statement: it details all the income and expenses that the company had in a given period, thus providing an accurate picture of the organization's liquidity.
  • Cash flow statement: shows all the changes in cash and cash equivalents that have taken place in a company over a certain period of time. This information is broken down by operational activities, investment activities and financing activities. This way, the sources of cash and their impact on the company can be analyzed.
  • Statement of changes in equity: it includes every company transaction and how they affect its assets.
  • Management report: it provides an explanation and analysis of the most significant data from all the previous statements, together with the decisions that have given rise to the company's financial situation at a given time. It also provides information for managing the organization and its future investment policy.
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Financial statement forms

Since the purpose of financial statements is to provide information on the company's economic situation and to assist in making future decisions, these reports must include detailed information and paint an accurate picture of the organization. In addition, the information must be presented in a clear and orderly manner, using the same structure for all the reports prepared for easy comparison.

Large corporations, international institutions and SMEs all rely on financial statements; as a result, different models have to be adapted to the specifics of each company and to the reasons for preparing said statements. For example, these types of reports are required by banks when companies apply for a loan, since they provide information on the company's debt level and its ability to repay the amount owed. They can also be used to inform shareholders about the organization's situation, so that they can assess the status of their shares and see if the assets they have invested are gaining or losing value.

In BBVA are specialists in SMEs and have an expert team that offer solutions adapted to your business. For example, have the functionality One View, a financial aggregator that allows control your accounts, cards, TPVs and obtain information of loans and credits, having it all controlled one at a glance. 

Do the payments of your company from your other banks without go out of BBVA

So much if your company is big as small, surely work with more than a bank. For that reason, in BBVA try facilitate you daily life with BBVA One View. A tool with which as well as have a vision global of your different banks, now also you allows do the payments of your company from your other banks without go out of BBVA**.

  • In an agile and simple way: chooses one of your accounts attachés, complete the details of payee, amount and concept and smart, have initiated the payment. The bank that receives the order from BBVA execute the transfer. The transaction receipt it be able to download directly, thus was over have to go of a bank to another.
  • Safe: your passwords always be yours. From BBVA only you ask for the passwords of your other banks at the time of the aggregation. Later, for initiate payments, the passwords only you the ask for your other banks.
  • No fees: not you charge no fee for this service. Only pay what your other bank you copper usually for the transfers standards and immediate.
  • And many more functionalities: as well as carry out the operations, be able to see the historic one of payments tidy for date, the payments pending of signature and cancel the periodic payments, etc.

All without go out of BBVA.

The initiator of payments of BBVA One View is available for the transfers from Caixabank, Santander, Popular, Bankinter, Unicaja and Bankia.

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