Year-end reporting
Year-end reporting is where accuracy matters most. It becomes the foundation for statutory filings, tax submissions, audits, bank discussions and investor reporting. A rushed year-end close can create lasting problems: misstated profits, unexplained balance sheet items, and late filings.
Oceans delivers year-end reporting that is reconciled, documented and easy to review. We focus on a clean year-end close, audit-ready schedules and a clear financial storyβso stakeholders can trust the outcome.
If an audit is planned, we align deliverables to the auditorβs testing approach and help reduce friction and repeat requests.
Whatβs included
βοΈ Year-end close management (cut-offs, accruals, prepayments and checks)
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βοΈ Annual financial statements package (Balance Sheet, P&L, Cash Flow where applicable)
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βοΈ Balance sheet reconciliations and supporting schedules (fixed assets, debt, equity, provisions, etc.)
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βοΈ Revenue and expense reviews for consistency and correct classification
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βοΈ Working capital review (receivables, payables, inventory where applicable)
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βοΈ Audit-ready documentation structure (traceable and easy to navigate)
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βοΈ Coordination with auditors and third parties (if required)
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βοΈ Optional: Management year-end report (KPI, variance insights, key risks and actions)
What we need from you
βοΈ Access to accounting records and chart of accounts
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βοΈ Bank statements / feeds and payment platform reports
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βοΈ Sales and purchase invoices, key contracts and agreements
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βοΈ Payroll summaries and benefits details (if applicable)
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βοΈ Fixed asset register (or asset purchase documentation)
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βοΈ Loan/debt schedules and lease agreements (if applicable)
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βοΈ Any year-end specific events (one-offs, restructuring, write-offs)
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βοΈ Audit requirements and deadlines (if an audit is planned)
How it works
1. Year-end planning β confirm deadlines, stakeholder requirements and reporting scope.
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2. Data review & clean-up β reconcile banks and key accounts; identify open items.
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3. Close process β apply cut-offs, accruals, prepayments and consistency checks.
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4. Statement preparation β produce annual accounts with clear supporting schedules.
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5. Review & sign-off β walk-through with management; address questions.
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6. Audit coordination (if applicable) β provide schedules, explanations and documentation.
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7. Final delivery β deliver the final reporting pack in a structured, shareable format.
Typical timeline
Typical year-end delivery: 2β6 weeks depending on data readiness, complexity and audit requirements.
If records are already clean and reconciled: the process can move significantly faster.
If multiple entities or consolidation is required: allow additional time for standardization and intercompany alignment.
Common pitfalls we prevent
βοΈ Unreconciled balance sheet accounts that create audit issues later
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βοΈ Cash and profit mismatches caused by missing accruals or incorrect cut-offs
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βοΈ Unclear schedules that auditors cannot trace back to source data
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βοΈ Late identification of debt, leases, provisions or one-off events
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βοΈ Delays in statutory filings due to incomplete documentation
FAQs
Find answers to common questions!
Yes. We coordinate schedules, explanations and documentation to reduce audit friction.
Yes. We can take over the year-end close and prepare the year-end package based on your records.
Year-end reporting includes deeper reconciliations, statutory structures and audit-ready schedules designed for external review.