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This document is a Personal Financial Statement required to disclose the financial activity of a filer and their family members for the preceding calendar year, as per chapter 572 of the Government
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How to fill out personal financial statement

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How to fill out PERSONAL FINANCIAL STATEMENT

01
Start with your name and contact information at the top of the form.
02
Provide your social security number to verify your identity.
03
List all sources of income, including salary, bonuses, and any other earnings.
04
Detail your assets, such as cash, real estate, investments, and personal property.
05
Outline your liabilities, including credit card debt, loans, and other financial obligations.
06
Calculate your net worth by subtracting total liabilities from total assets.
07
Review your statement for accuracy and completeness before submission.

Who needs PERSONAL FINANCIAL STATEMENT?

01
Individuals applying for loans or credit.
02
Business owners seeking financing or investment.
03
Financial planners assisting clients with budgeting and investments.
04
Those applying for government grants or assistance programs.
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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 outlines an individual's financial position, including assets, liabilities, income, and expenses.
Individuals applying for loans, financial aid, or certain forms of employment may be required to file a Personal Financial Statement.
To fill out a Personal Financial Statement, gather all financial records, list assets and liabilities accurately, and 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 status, helping in loan applications, financial planning, and investment assessments.
A Personal Financial Statement must report information including total assets (cash, investments, property), total liabilities (debts, loans), and net worth.
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