Get the free Financial Statement Long Form - Mass.gov

Financial Statement following Financial Statement is being submitted in conjunction with the Loan Application for the following loan: As of Date:Name:As Borrower/Spouse/Guarantor:Address:Address Gross

How to fill out financial statement long form

How to fill out financial statement long form

1. Gather all the necessary financial documents including income statements, bank statements, tax returns, and investment statements.
2. Organize the information by categorizing different aspects such as income, expenses, assets, liabilities, and equity.
3. Start with the basic information section and provide details about your personal information and the period the financial statement covers.
4. Move on to the income section and list all your sources of income, including salaries, dividends, interests, etc. Provide accurate figures for each source.
5. Proceed to the expenses section and list all your expenses, including rent, utilities, insurance, loan payments, etc. Again, provide accurate figures for each expense.
6. Include a section for assets, where you list all your possessions such as cash, inventory, real estate, vehicles, etc. Provide estimated values for each asset.
7. Similarly, include a section for liabilities, where you list all your debts, loans, mortgages, etc. Provide the outstanding balance for each liability.
8. Finally, include a section for equity, which represents the ownership value or net worth. Calculate it by subtracting total liabilities from total assets.
9. Review the filled-out form for any errors or missing information. Make sure all the numbers are accurate and all sections are completed properly.
10. Sign and date the financial statement long form to certify its accuracy and completeness.
11. Submit the form to the appropriate party or organization as required.
12. Keep a copy of the filled-out financial statement for your records.

Who needs financial statement long form?

1. Individuals who are applying for loans or mortgages may need a financial statement long form to provide detailed information about their financial situation to lenders.
2. Business owners may need a financial statement long form to present to investors, potential partners, or regulatory authorities.
3. Financial institutions and banks may require individuals or businesses to submit a financial statement long form as part of their application process.
4. Individuals or businesses involved in legal proceedings such as divorce or bankruptcy may need a financial statement long form to disclose their financial status.
5. Some government agencies or programs may require applicants to submit a financial statement long form to determine their eligibility for certain benefits or assistance.
6. Accountants, financial advisors, or tax professionals may need a financial statement long form to assess their clients' financial situation and provide appropriate advice.
7. Individuals or businesses seeking financial planning or investment advice may need to provide a financial statement long form to financial planners or wealth management firms.

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