What does this mean?
Glossary – accounting and bookkeeping
What does ARK stand for?
AARK stands for auktoriserad redovisningkonsult – an authorised accountant. An authorised accountant has a forward-looking and proactive perspective on the client’s business. The accountant ensures that the quality of the accounting and financial reporting is already incorporated into the everyday work of the organisation, rather than being retroactively implemented via the auditing process. The accountant takes responsibility for the ongoing accounting, returns and declarations, closing accounts and annual reports, and also participates in financial planning and budgeting work. The ongoing contact with clients throughout the year also means that the accountant is well acquainted with the company’s business, and is therefore well-placed to act as an important advisor in the company’s decision-making and business development.
What is meant by Rex and Reko?
Rex and Reko refer to a normalised standard for good practice in the provision of accounting services, and constitute a recognised standard both in the accounting industry and in industry in general. The standard has been developed jointly by the industry associations Srf Konsulterna and FAR. The standard is aimed at authorised accountants, and contains procedures and guidelines to ensure that the accounting and the services provided are of high quality, and are of benefit to the companies, industry and society.
What is an annual accounts report?
The statutory audit requirement for small limited liability companies was withdrawn in 2010. Instead, it is now possible to use the annual accounts report as proof of quality for the company’s accounts. In simple terms, the annual accounts report is a receipt and proof that the accounting is of good quality and has been conducted in accordance with the standard for Rex and Reko. The annual accounts report has been developed by the industry organisations Srf Konsulterna and FAR.
Is it possible to obtain an annual accounts report for a sole proprietorship?
JYes. The annual accounts report can be issued for all types of companies, including sole proprietorships and partnerships. This makes possible the quality assurance of businesses that are established in forms other than a limited company. Many surveys from credit institutions show that creditworthiness is highest among those companies that have annual accounts reports. Since 1 July 2011, interim reports can also be quality assured by means of a dedicated interim accounts report.
Can anyone draw up an annual accounts report?
No. Only an authorised accountant who works in accordance with the requirements of the Rex and Reko Swedish standard for accounting services, and who has prepared or assisted in the preparation and compilation of the client’s financial reports and annual accounts, can draw up an annual accounts report. The issued document – the annual accounts report – certifies that the underlying accounting has been checked, reconciled and assessed for reasonability in accordance with these quality requirements.
Do you represent a small or medium-sized company, a partnership or a sole proprietorship, and would you like to ensure the quality of your accounting? If so, contact us, and one of our authorised accountants will be happy to help!
Please feel free to email us if you have any questionsADD & subtract – more than just accounting
Taxes
The tax system is constantly changing. We offer professional advice on corporate and private taxation.
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Accounting
We will give you competent help with accounting, payroll services, annual accounts, income tax returns, financial control, analyses, company registration matters, etc.
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Audit
Our chartered and approved accountant acts as a sounding board and will help you develop your company and business concept in the long term.
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Payroll services
We will help you with payroll accounting, paying salaries, retirement annuities, and statements of earnings and deductions for employees, etc.
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Organisation & financing
We produce routines to make the work with the company’s finances easier on many levels and propose solutions for improved liquidity and higher earnings.
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Liquidations
We can handle the whole process of liquidating a company, including communication with shareholders, liquidation of assets and liabilities, production documentation and preparation of the final statement of accounts.
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Family business matters
We can help in all the company stages: setting up, questions about partnership, restructuring, mergers, sales, liquidation, etc.
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Start-up
As a new business owner, keeping track of bookkeeping and various taxes is often no easy task. If your goal is rapid growth, it’s better to let us take care of these matters so you can focus on your core business ideas and activities.
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Housing cooperatives
Add & Subtract has offered packaged solutions for the financial management of housing cooperatives for many years. Our service makes it easier for the board and members to manage the cooperative’s finances and taxation, in addition to board members’ responsibilities.