Preparation of financial statements

(Beta version)

All transactions and events registered in the accounting records are incorporated into the financial statements of the period.

Very small entities, specifically sole proprietorships with a turnover not exceeding 1,500,000 Euros, may only prepare the Income Statement of B6 model pursuant to the Law 4308/2014.

MODEL B6 of Law 4308/2014

Statement of Results for very small entities

	20Χ1	20Χ0
Turnover (net)	Χ	Χ
Other usual income	Χ	Χ
Inventory changes (commodities, products, semi-finished)	Χ	Χ
Purchase of commodities and materials	Χ	Χ
Benefits to employees	Χ	Χ
Depreciation of tangible and intangible assets	Χ	Χ
Other costs and damages	Χ	Χ
Other income and profits	Χ	Χ
Interest and related funds (net amount)	Χ	Χ
Profits/losses before tax	Χ	Χ
Tax	Χ	Χ
Profits/losses after tax	Χ	Χ

The preparation of financial statements for the period must be completed as soon as possible, namely:

a) six months from the end of the period or

b) the time limit allowed by the tax administration for fulfillment of your obligations.

You should know that:

When the turnover of your sole proprietorship exceeds 1,500,000 Euros for two consecutive annual periods, you shall no longer fall within the category of very small entities.

Remember:

For more information regarding the simplifications and reliefs that apply to very small entities, please read Article 30 of Law 4308/2014.