Fit for talking to banks: documents, creditworthiness, balance sheet, conditions

LBG Austria - Summary: The professional cooperation with financiers on the basis of reliable, realistic numbers proves itself. The timely and careful preparation of documents is important for the purpose of determining one's own position and for the orderly communication of the company's economic and financial situation. It must always be considered: entrepreneurs, managing directors, board members, shareholders, commercial managers are personally responsible for the accuracy of their oral and written information about the current or future situation of the company – furthermore they are also liable for not holding back information that might be disadvantageous for credit lending decisions. In any case, the following documents should be available: annual financial statement of the last financial year including the comparison with the previous year. Current "balance sheet" or "short-term profit-and-loss accounts", which are separated in terms of time and content, whereby the assets, liabilities, income and expense accounts should be structured in the same way as the annual financial statements, including amounts and percentages and pressure from the previous year (depending on the industry including seasonal comparison); a monthly target / actual comparison of the current year completes a current economic overview. Additionally, an overview of the annual performance planning (budget), the annual financial plan and, if necessary, an investment calculation.

Contact & Advice: This information naturally shows basic aspects of the topic - for completeness and correctness no guarantee can be given despite careful preparation. LBG will gladly advise you in your individual situation. Please contact one of our 31 Austria-wide locations (www.lbg.at) or welcome@lbg.at - we will gladly bring you together with one of our experts, who is very familiar with your request.