SayProCOR -Feedback for SayPro Financial Statement FY2023/24

As SayProCOR I have gone through the FS and these are my findings.

From General Information to Directors Report, I find the report accurate and clear, with no need for amendments or changes.

Section 5 of the Statement of Financial Position
1. There is a gradual increase in the Cash and Cash Equivalents, meaning that there was an improvement from the previous Financial Year’s performance.
2. Accumulated Losses decreased, indicating a positive management of Equity and Liabilities.
3. The Non-current liabilities have stayed the same but the good part is that these improved from the previous FY to this year, the increase is almost 5 times than last year, indicating an improvement.

Section 6 of the Statement of Comprehensive Income
1. I have noted that there was a slight decrease in income.
2. I also noted that we are still operating at a loss, which means we need to adjust our financial management or justify the loss.
3. The part that indicates dates (shows 2024, 2023) overlaps; it needs to be corrected.

Section 7 Statement of Changes in Equity
1. There isn’t much to provide ragrding this, is it shows no changes but the balance remained the same for both Financial Years/

Section 8 Statement of Changes in Equity

This section is in order and shows a positive increase from the previous year to the current year.

The policies are being followed which ofcourse ensure accuracy and compliance.

Overall I am happy with the draft of the financial statement for SayPro just the need to amend the section for dates to avoid overlapping.

Kind regards | COO | SayPro