annual financial statement / year-end celebration
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annual financial statement
The accounting close of a commercial fiscal year, which presents a company's financial position and typically consists of a balance sheet and a profit and loss statement.
Der Wirtschaftsprüfer kontrolliert den Jahresabschluss des Konzerns.
The auditor checks the corporation's annual financial statement.
The word is made up of 'Jahr' (year), with the linking -s in 'Jahres-', and 'Abschluss' (closing, conclusion). So it literally describes the closing or end of a year.
Der Jahresabschluss markiert das Ende des Geschäftsjahres.
The annual financial statement marks the end of the fiscal year.
You can tell from context whether the financial report or the celebration is meant. Words like 'Bilanz' (balance sheet), 'prüfen' (to audit/check), or 'Unternehmen' (company) point to the financial meaning. Words like 'feiern' (to celebrate), 'einladen' (to invite), or 'Mitarbeiter' (employees) point to the event.
Die Buchhaltung bereitet den Jahresabschluss vor.
The accounting department is preparing the annual financial statement.
In a financial context, 'Jahresabschluss' (annual financial statement) is often combined with certain verbs: 'den Jahresabschluss erstellen' (to prepare the annual financial statement), 'prüfen' (to audit/check), or 'veröffentlichen' (to publish).
Große Firmen müssen ihren Jahresabschluss veröffentlichen.
Large companies must publish their annual financial statements.
In the meaning of the financial report, 'Jahresabschluss' (annual financial statement) is a technical term from business and accounting.
Für den Kredit bei der Bank mussten wir den letzten Jahresabschluss vorlegen.
For the loan from the bank, we had to submit the most recent annual financial statement.
When an event is meant, typical verbs are 'einen Jahresabschluss feiern' (to celebrate a year-end event), 'organisieren' (to organize), or 'zum Jahresabschluss einladen' (to invite someone to a year-end celebration).
Die Abteilungsleiterin organisiert den diesjährigen Jahresabschluss.
The department manager is organizing this year's year-end celebration.
balance sheet / assessment
'die Bilanz' and 'der Jahresabschluss' both belong to a company's financial reporting. The important difference is: the balance sheet is part of the annual financial statement. It shows assets and liabilities on a specific date. The annual financial statement is broader and closes the whole fiscal year in accounting terms; it typically includes the balance sheet and other statements. The words can be confused because both often appear at the end of a fiscal year. To be precise: you prepare an annual financial statement, and the balance sheet is one part of it.
Der Steuerberater prüft den Jahresabschluss des kleinen Unternehmens.
The tax advisor reviews the small company's annual financial statement.
Die Bilanz zeigt, dass die Firma am Jahresende weniger Schulden hatte.
The balance sheet shows that the company had less debt at the end of the year.