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This document is a financial statement for the City of Florence, Kansas, presenting the regulatory basis receipts, expenditures, and unencumbered cash balances for the year ended December 31, 2012.
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How to fill out Financial Statement
01
Gather all relevant financial documents, including income statements, balance sheets, and cash flow statements.
02
List your income sources and total them to get your total income.
03
Compile your expenses, including fixed and variable costs, and total them to find your total expenses.
04
Calculate your net income by subtracting total expenses from total income.
05
Complete the balance sheet by listing your assets and liabilities.
06
Ensure that the assets equal liabilities plus equity to maintain balance.
07
Review and verify all figures for accuracy.
08
Prepare the cash flow statement by detailing cash inflows and outflows.
09
Double-check the final documents for correctness and consistency.
Who needs Financial Statement?
01
Businesses for financial reporting and analysis.
02
Lenders and banks to evaluate creditworthiness.
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Investors to assess the potential return on investment.
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Regulatory agencies for compliance and tax purposes.
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Business owners to understand financial health and make informed decisions.
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What is a financial statement in English?
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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What is Financial Statement?
A financial statement is a formal record of the financial activities and position of a business, person, or entity. It provides a summary of the financial transactions over a specific period, which includes the balance sheet, income statement, and cash flow statement.
Who is required to file Financial Statement?
Generally, businesses that meet certain criteria set by regulatory authorities, such as publicly traded companies, non-profit organizations, and large private companies, are required to file financial statements. Additionally, individuals pursuing loans or mortgages might also need to provide financial statements.
How to fill out Financial Statement?
To fill out a financial statement, one must first gather all relevant financial information, including income, expenses, assets, and liabilities. Then, accurately categorize this data into sections of the statement, such as revenue, operating expenses, and net income for the income statement, and list assets and liabilities for the balance sheet.
What is the purpose of Financial Statement?
The primary purpose of a financial statement is to provide an overview of the financial position and performance of an entity. It is used by stakeholders, including investors, creditors, and management, to make informed decisions regarding resource allocation, investment opportunities, and financial health assessment.
What information must be reported on Financial Statement?
A financial statement must typically report information such as revenue, costs of goods sold, gross profit, operating expenses, net income or loss, total assets, total liabilities, and equity. It should reflect the financial performance over a specific time period and the overall financial position at a specific date.
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