PRN: New Fully Featured Accounting Tools From Duedil
New Fully Featured Accounting Tools From Duedil
LONDON, June 1, 2012 /PRNewswire/ --
-Duedil's new accounting ratios calculator and accounts estimator help users examine the accounts of small and medium-sized companies in greater depth-
Duedil, the world's largest free database of company information, has rolled out two new features to help users extract greater detail from abbreviated accounts.
Duedil offers free access to annual accounts that have been submitted to Companies House UK. All limited companies, regardless of whether they're currently trading, must file accounts annually, but the depth of information depends on the size and type of the company.
Since many companies, particularly those that are small and medium-sized, only file abbreviated accounts with Companies House, figures such as turnover, profit and cost of sales are often difficult to ascertain.
To solve this problem, Duedil has launched two new features: an accounts estimator for small and medium sized businesses that file abbreviated accounts; and an accounting ratios calculator that presents users with useful tools to evaluate company performance, including return on assets, profit margin, and inventory turnover ratio.
Company founder, Damian Kimmelman, comments, "We've introduced these new features to help users get the most from sometimes limited financial information, whether they're checking a competitor's profitability, or looking for firms with promising performance indicators for private equity opportunities.
"These tools provide accurate information to speed up the screening process and help users analyse and make sense of the figures that make up P&L accounts and balance sheets."
Duedil was founded in April 2010 by entrepreneur, Damian Kimmelman, who wanted to develop a sense of trust in business by opening up company information for free. Duedil is short for Due Diligence and is funded by Passion Capital, which is predominantly funded by the UK government.
Comprising the largest database of free company financials in the world, Duedil aggregates billions of data points including information purchased from the Companies House database to provide reliable information on companies and directors in the UK and Ireland.
Visit: http://www.duedil.com/ for more information