A brief guide to producing company accounts

PhilW, commenting on my piece about company accounts, points out quite reasonably that, when accountants charge as much as £1500 to produce a set of statutory accounts, it is no wonder that many company directors choose to try and do it themselves.

Of course, without training and experience, this is not necessarily easy, or wise. However, there is little in the way of simple guidance, and given that new companies are be founded at the rate of a thousand a day, some of my readers are likely to be directors of their own companies. So, over the next few days, I'll be providing a basic guide that will help readers to understand what they need to do and why. It will not be a complete guide, but it will serve most purposes.

I'll also field any questions, answering them where I can. So let the bureaucracy begin...