B1 Intermediate US 42 Folder Collection
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This is Michael.
Michael is a rookie investor.
He received an email with the suggestion to invest into a very attractive business in
Vanuatu to secure a share in a growing company.
This investment was supposed to be a quick and easy way to make a lot of money.
Michael took a chance, got a bank loan, pledged his apartment, and… lost all his money.
Now he is hiding from creditors and no longer answers phone calls.
To make an informed investment decision and assess his risks, Michael should have checked
the company's solvency first.
Financial statements are the most reliable source for such information.
Financial statements show a company's overall financial state, its solvency and performance
during a certain period.
Financial statements are essential for making important decisions like purchasing capital
shares or taking legal action to collect debts.
Financial statements usually include information about:
Assets, financial liabilities and capital stock
Revenues and expenses, profits and losses Cash flow and equity changes
Different countries have different requirements concerning compilation, publication and the
content of financial statements.
All limited liability and public companies in Europe are obliged to compile and publish
financial statements, according to the Directive 78/660/EEC from 25 July 1978.
Depending on the company's size, number of employees and participation in stock exchange,
the amount of information can be different.
Furthermore, financial statements compiled by major and public companies must be reviewed
by an external auditor.
In most offshore jurisdictions companies do not report or publish their financial statements.
This is why negotiating risky deals requires extreme caution.
Unfortunately, Michael was not aware of any of this.
Michael turned to Schmidt & Schmidt and received an in-depth consultation.
Now he knows how to properly check a company's financial state and minimize his investment
When Michael earns enough money, he will definitely invest it again.
Next time he will definitely check the company's financial reports first, with the help from
the experts at Schmidt & Schmidt.
Schmidt & Schmidt assists in providing financial statements from more than 60 countries of
the world.
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What are financial statements?

42 Folder Collection
Teach published on July 19, 2020
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