The Group has raised its profit forecast for the financial year 2022/2023. It is aiming for consolidated revenue and earnings before tax of EUR 380-480 million. This is an increase of 46 percent compared to the first quarter of the previous financial year. The Group also increased its net profit by 58% to 2.56 million euros.
Closing the fiscal year requires a coordinated effort from all departments. It is vital to ensure that all transactions have been recorded and any necessary corrections have been posted. In addition, it is essential to verify the accuracy of outstanding encumbrances. These encumbrances can impact state fund budget balances.
The European executive agencies published the budget information in two parts – the administrative budget and the statement of revenue and expenditure for the financial year 2022. These documents are available for download in PDF format. To read them, you will need Adobe Acrobat Reader. The two documents are also available separately. This gives you the opportunity to easily compare the differences between the two documents and make changes.
The next financial year will start on the first of April 2022. It will end on the fifth of April 2023. This financial year will last for 12 months, or four quarters. The quarters will overlap the last annual report, so it is vital to make sure the reports are accurate. Investing in accounting software can save you time and ensure reporting accuracy.