Annual accounts
The annual accounts consist of the balance sheet, the income statement and the notes; they must be prepared within six months of the end of the financial year and approved by the competent body.
Definition
The notes are the part SMEs most often lack. They state, among other things, the valuation principles applied, the number of full-time positions, residual amounts of leasing obligations and details of participations. Without them the accounts are incomplete.
Larger companies additionally prepare a cash flow statement and a management report. For most SMEs the accounts for smaller undertakings apply — balance sheet, income statement and notes.
The numbers
- 6 months
- deadline for preparation after the end of the financial year Art. 958 para. 3 CO
Where to read it
What the software must be able to do
The check is called closing modules: accruals, fixed asset accounting, account reconciliation and a report in the statutory structure. Whoever lacks them does the closing in a spreadsheet or at the fiduciary.
Checked Aug 2026
More terms under Bookkeeping and retention: Accrual principle Accrued liabilities Association accounting Balance sheet Balance sheet total Book value Break-even point Business assets Business expenses Cash book Cash flow statement Cash receipts Contribution margin Cost centre Current assets Debit and credit Depreciation Double-entry bookkeeping Duty to keep accounts EBIT EBITDA Equity Equity ratio Financial year Fixed assets Fixed costs Foreign currency General ledger Gross profit Hidden reserves Income statement Inventory count Journal Journal entry Liabilities Liquidity Loss carry-forward Membership dues Net profit Opening balance sheet Overheads Pass-through item Prepaid expenses Provision Record-keeping ordinance Reserves Retained profit Simple accounts Swiss SME chart of accounts Tamper resistance Turnover Value adjustment Variable costs Volunteer-run structure Voucher Year-end closing modules