Your Business's "Health Report": Why Financial Statements Matter Think of your financial statements as your business's "health report card" or "medical check-up results." Just as you go to the doctor to see if you're healthy, these documents show if your business is healthy, strong, and growing. 1. It's the Law (Like Your Business's Road Tax & License) · You need a license (lesen) to run your business. In the same way, by law (Akta Syarikat 2016), your registered company must prepare these financial reports every year. · LHDN (Tax Office) needs it to calculate your correct company tax. Giving them a messy report is like inviting them to check and fine you. 2. To Know If You're Actually Making Money · Just because money is coming into your bank account (jualan / sales) doesn't mean you're making a profit (untung). · Your Profit & Loss Statement is like a weighing scale. It takes all your sales, then minus ALL your cos...
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