The financial statements of businesses (balance sheets, income statements) are published at least once a year in the media as well as in the General Commercial Registry (G.E.M.I.).
Through these publications, businesses provide information about their asset status, their obligations, the employed personnel, the transactions that took place during a time period, mainly twelve months, and the result (profit or loss) achieved from these transactions.
The uniform presentation of financial statements, which was one of the goals of implementing the Greek General Accounting Plan and, subsequently, the Greek Accounting Standards, allows for comparisons between businesses in the same sector and the extraction of useful conclusions.
However, to prepare financial statements, it is necessary to collect and record various events that continuously change the assets of the business.
The events that daily alter the assets of the business are called "accounting events".
The expenditure of money by an entrepreneur to establish a business, the subsequent leasing of offices by them to house the business's services and the payment of rent, the hiring of personnel as well as the payment of salaries to them, and the purchase of goods by the business for resale are just a few of the thousands of accounting events that daily change the assets of businesses.
