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AGENDA ITEM NO.: 4. F.1 MEETING DATE: 06/17/2019 ADMINISTRATIVE REPORT NO.: 201957 ACTION: BY Resolution:Honorable Public Utilities Boardroom:Sophie Said Financial Services Supervisor/S/Submitted
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Resources for year-end refers to the financial information and documents that organizations need to prepare at the end of the fiscal year, including balance sheets, income statements, and cash flow statements to summarize their financial position.
All businesses, non-profits, and organizations that must adhere to accounting regulations and tax obligations are required to file resources for year-end, including corporations and partnerships.
To fill out resources for year-end, organizations need to gather all financial records, calculate total revenues and expenses, create necessary financial statements, and ensure compliance with accounting standards.
The purpose of resources for year-end is to provide a clear picture of the financial health of an organization, comply with legal and tax obligations, and inform stakeholders about the organization’s performance over the past year.
The information that must be reported includes total assets, liabilities, equity, revenues, expenses, cash flow details, and any significant financial statements required by law.
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