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F FINANCIAL S STATEMENTS, TAXES, AND C ASH F Chapter 2OUTLINE 1. The Balance Sheet & Income Statement 2. Corporate Tax Rates (and the new law) 3. Cash Flow from Assets2F FINANCIAL S STATEMENTS 3FINANCIAL

How to fill out f inancial s tatements

How to fill out f inancial s tatements

1. Gather all the necessary financial documents such as income statements, balance sheets, and cash flow statements.
2. Review the instructions or guidelines provided by the specific entity or organization requesting the financial statements.
3. Start with the income statement by recording all the sources of revenue and expenses for the specified period.
4. Move on to the balance sheet and list all the assets, liabilities, and equity.
5. Calculate financial ratios and other performance metrics if required.
6. Complete the cash flow statement by detailing the cash inflows and outflows from operating, investing, and financing activities.
7. Thoroughly review the completed financial statements for accuracy and consistency.
8. Make any necessary adjustments or corrections.
9. Present the financial statements in the required format or according to the guidelines provided.
10. Submit the filled out financial statements to the appropriate party or organization.

Who needs f inancial s tatements?

1. Financial statements are needed by various stakeholders such as:
2. - Business owners or shareholders who want to assess the company's financial performance and make informed decisions.
3. - Investors who are considering investing in a company and need to evaluate its financial health.
4. - Lenders or creditors who require financial statements to assess the creditworthiness of a company before providing loans or extending credit.
5. - Government agencies or regulatory bodies that use financial statements for monitoring and auditing purposes.
6. - Potential buyers or partners who want to assess the financial stability and potential risks of a company before making a business deal.
7. - Analysts or financial professionals who need financial statements to conduct financial analysis and make recommendations.
8. - Employees who want to understand their company's financial position and stability.
9. - Researchers or academicians who use financial statements for academic or research purposes.

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