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ASSUMPTION PARISH of Maltese 4725 Mathis Rd. St. Louis, MO 63128 Phone: 3144877970 Fax: 3148925513 www.assumptionstl.org Welcome to our Parish! Thanksgiving Daily Masses November 28 Monday Friday
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{Assumptionstlorg is a term used to describe the assumptions made by an organization when preparing financial statements. These assumptions can include things like the going concern assumption, the accrual basis of accounting, and the economic entity assumption.}
{Organizations that are required to prepare financial statements in accordance with GAAP (Generally Accepted Accounting Principles) are usually required to include assumptions such as the going concern assumption, the accrual basis of accounting, and the economic entity assumption when filing financial statements.}
{To fill out the assumptions of an organization in financial statements, one must first identify and document the key assumptions being made. These assumptions should be based on management's best estimate of future events and economic conditions. The assumptions should be clearly disclosed in the financial statements along with any potential risks or uncertainties.}
{The purpose of including assumptions in financial statements is to provide transparency to stakeholders about the key judgments and estimates made by management when preparing the financial statements. This helps users of the financial statements understand the basis for the reported amounts and make informed decisions.}
{The assumptions included in financial statements typically include the going concern assumption, the accrual basis of accounting, and the economic entity assumption. Additionally, organizations may need to disclose other key assumptions specific to their industry or circumstances, such as estimates of future cash flows or market conditions.}
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