Question 8: Entities that maintain simplified accounting records are not legally obligated to maintain a balance sheet under existing regulations. As per the prescribed supportive documents for inclusion in Appendix II (item number 9), the financial data for the two most recent concluded fiscal years prior to the year of submitting the funding application is required. To fulfill the criteria concerning the beneficiary's financial data in the electronic participation application, what is the necessary submission?
For entities employing simplified accounting, the submission entails providing the Model (ELP) B.5 Balance Sheet tailored for very small entities, complete with the endorsement of either the Accountant or the Legal Representative. Notably, this supportive document is applicable solely to companies mandated to prepare the specified model.