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CITY AND COUNTY OF SAN FRANCISCO MAYORS PROPOSED SALARY ORDINANCE AS OF May 31, 2019File No. Ordinance No. FISCAL YEAR ENDING JUNE 30, 2020, and FISCAL YEAR ENDING JUNE 30, 2021SALARY ORDINANCE Fiscal
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Gather all financial records and statements for the fiscal year
02
Determine the starting and ending dates of the fiscal year
03
Calculate the net income or loss for the fiscal year
04
Enter the net income or loss on the income statement
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Report any adjustments or corrections to financial statements
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Prepare the balance sheet for the fiscal year
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Review and verify the accuracy of all financial information
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Companies and organizations that operate on a fiscal year basis
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Government agencies and regulatory bodies that require fiscal year reporting
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The fiscal year ending in June is the twelve-month period that a company or organization uses for financial reporting, which ends in the month of June.
Companies, organizations, and individuals that follow a June fiscal year-end are required to file their financial reports and tax returns accordingly.
To fill out the fiscal year ending in June, companies need to prepare financial statements, income statements, balance sheets, and other relevant documents in line with accounting standards.
The purpose of having a fiscal year ending in June is to allow for consistent financial reporting and planning over a set period, usually from July to June.
The information that must be reported includes financial performance, revenue, expenses, assets, liabilities, equity, and any other relevant financial data.
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