Who Needs Financial Statement?
Financial statement is the record of the financial activities of the individual or business. Financial statement is generally issued by banks, creditors or investors to get clear understanding of the individual’s financial situation.
What is Financial Statement for?
This particular financial statement is filled out for the Crow River State Bank to get a credit. An individual or a company presenting this statement must provide accurate, liable and relevant information. It will influence the decision of bank or an investor.
Is Financial Statement Accompanied by Other Forms?
No additional documents are required to be attached to this form.
When is Financial Statement due?
Financial statement has no specific time limitations. Often a person or a company fills it out upon request.
How Do I Fill out Financial Statement?
Financial statement includes two pages that are split into several blocks. The first block is for applicant’s identifying information. It includes name, date of birth, SSN, etc. The second block is balance sheet. It’s kind of a snapshot of a company’s financial situation at particular time. It includes assets, liabilities that include medical bills, real estate, etc. The last block contains fields that list the income sources and contingent liabilities.
Except the blocks on the first page, there are also some schedules. In total, you have to complete four schedules.
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Schedule 1 accounts for the securities a person or a company own
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Schedule 2 is for the insurance policy
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Schedule 3 lists the type of property owned
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Schedule 4 is for the mortgage on real estate.
Where Do I Send Financial Statement?
Complete financial statement is signed and dated and sent to the institution or the individual who has requested it.