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This document is a personal financial statement required by the Texas Ethics Commission for individuals to disclose their financial activity, as well as that of their spouse or dependent children,
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How to fill out PERSONAL FINANCIAL STATEMENT

01
Start with your personal information: Full name, address, phone number, and email.
02
List your assets: Include cash, savings, investments, real estate, and personal property.
03
Detail your liabilities: Document all debts such as loans, credit cards, and mortgages.
04
Calculate your net worth: Subtract total liabilities from total assets.
05
Provide income information: Include salary, bonuses, and other income sources.
06
List monthly expenses: Include all necessary living expenses like housing, food, and insurance.
07
Review and ensure accuracy: Double-check all entries for correctness.

Who needs PERSONAL FINANCIAL STATEMENT?

01
Individuals applying for loans or mortgages.
02
Business owners seeking funding or investors.
03
People looking to assess their financial health.
04
Professionals applying for certain job positions requiring financial disclosures.
05
Individuals preparing for financial planning or retirement.
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People Also Ask about

A personal financial statement (PFS) is for organizing and measuring an individual's or family's financial status. The PFS has two chief sections: a cashflow assessment of income and outflows , as well as a balance sheet which displays one's overall assets, liabilities, and overall net worth.
The income statement, balance sheet, and statement of cash flows are all required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.
How to prepare an income statement Choose your reporting period. First, choose the length of your reporting period. Determine your trial balance. Determine revenue. Calculate the cost of goods sold. Determine gross profit. Determine expenses. Calculate total income. Determine taxes and interest.
I have always had a logical, organised and practical way of thinking, as well as a competitive nature, and I have realised that finance and accounting is the degree, which appeals to these characteristics. I noticed these logical subjects to be my forte from a young age.
List your assets: Identify and value all your assets using current market values for investments and real estate. List your liabilities: Include all your debts, noting the remaining balances and interest rates. Calculate your net worth: Subtract your total liabilities from your assets to determine your net worth.
Financial statements are a set of documents that show your company's financial status at a specific point in time. They include key data on what your company owns and owes and how much money it has made and spent. There are four main financial statements: balance sheet.

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A Personal Financial Statement is a document that provides a summary of an individual's financial position, including assets, liabilities, income, and expenses.
Individuals seeking loans, credit applications, or financial assistance may be required to file a Personal Financial Statement, as well as business owners and professionals in certain industries.
To fill out a Personal Financial Statement, one must list all assets, including cash, investments, and property, and all liabilities such as loans and mortgages, then calculate net worth by subtracting total liabilities from total assets.
The purpose of a Personal Financial Statement is to provide a clear picture of an individual's financial situation to lenders, investors, or for personal tracking of financial health.
A Personal Financial Statement must report assets (cash, real estate, investments), liabilities (debts, loans), income sources, and monthly expenses.
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Texas Ethics Commission financial statement government code public service disclosure financial activity lobbyist income sources bonds mutual funds

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