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What is comprehensive annual financial report?

A comprehensive annual financial report is a set of financial documents that provide detailed information about a government entity's financial activities and status over the course of a fiscal year.

Who is required to file comprehensive annual financial report?

Government entities such as states, cities, counties, school districts, and other local governments are required to file comprehensive annual financial reports.

How to fill out comprehensive annual financial report?

Comprehensive annual financial reports are typically prepared by government accountants and financial officers following accounting standards and guidelines set by the Governmental Accounting Standards Board (GASB).

What is the purpose of comprehensive annual financial report?

The purpose of a comprehensive annual financial report is to provide transparency and accountability regarding the financial activities and health of a government entity to the public, stakeholders, and investors.

What information must be reported on comprehensive annual financial report?

A comprehensive annual financial report must include information about the entity's financial position, operating results, cash flows, budget-to-actual comparisons, and notes to the financial statements.

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