The Annual Accounts are a set of accounting reports, mandatory to be carried out in Commercial Companies as established in the Commercial Code. However, although it is certain part of a mandatory compliance premise, the realization of the Annual Accounts can help Entrepreneurs and Companies to know and analyze their businesses, in order to be able to make sound decisions. The balance is the financial status of a company par excellence. In it, the patrimonial situation of the company at a certain moment of time is shown.
The company's liabilities consist of a set of financial resources, with the purpose and objective of developing the functions of the activity and for the estimates of future expenses. The Net Worth includes the contributions made by the partners, such as Capital. And there are also the benefits generated by the company and the reserves. You must provide your name, address, social security number and date of birth. If you have moved in the past two years, you may have to provide your previous address. In order to maintain the confidentiality of your report, each national credit reporting agency will request certain information that only you know, such as the amount of your monthly mortgage payment.
Each company may request different information, given that it is possible that the data that each one of them has come from different sources. You also have the right to a free report if a company sends you an unfavorable notice refusing your credit application, refusing to provide insurance or giving you employment, among other reasons, based on your credit report data. You must request your report within some days after receipt of the notification. The notification will include the name, address and telephone number of the credit reporting agency for free company accounts.
You are also entitled to a free annual report if you are unemployed and plan to seek employment within a period of time, if you are receiving social assistance or if your report is not accurate due to fraud or identity theft. Each company can request different data since the information contained in its record can come from different sources. Your credit report contains information that affects your ability to obtain a loan - and what you will have to pay to borrow money.