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FINANCIALSTATEMENTS 1632017Enlarge Your Tents Strengthen your Stakes2017CITAM AUDITED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2017CHRIST IS THE ANSWER MINISTRIES (CICAM) AUDITED FINANCIAL STATEMENTS
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Financial statements are formal records of the financial activities and position of a business, person, or other entity. They typically include a balance sheet, income statement, and cash flow statement.
Companies, organizations, and individuals engaged in business activities are required to file financial statements.
Financial statements are typically prepared by accountants or financial professionals using the financial records of the entity. They must follow generally accepted accounting principles (GAAP) and any specific regulations or requirements.
The purpose of financial statements is to provide information about the financial performance and position of an entity. They are used by investors, creditors, and other stakeholders to make decisions.
Financial statements must report information such as assets, liabilities, equity, revenues, expenses, and cash flows of the entity.
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