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OFFICE OF THE SUFFOLK COUNTY COMPTROLLER Compilation and Analysis of Contract Agency Disclosure Form Data For the 2021 Budget Evaluation ProcessReport 202004Date Issued: October 14, 2020John M. Kennedy,
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A compilation and analysis is a process where financial data is gathered, organized, and presented to provide a clear overview of an organization's financial status. It typically involves summarizing financial statements and providing insights into financial performance.
Businesses and organizations that need to prepare financial statements for stakeholders, regulatory requirements, or for internal purposes are typically required to file a compilation and analysis.
To fill out a compilation and analysis, you begin by collecting relevant financial data, organize it into sections (e.g., income statement, balance sheet), perform necessary calculations, and then summarize the findings in a clear, concise report.
The purpose of a compilation and analysis is to provide stakeholders with a comprehensive understanding of an organization's financial health, facilitate informed decision-making, and ensure compliance with regulatory requirements.
A compilation and analysis must report key financial information, including revenue, expenses, profits, assets, liabilities, and equity, along with any relevant notes or explanations that provide context to the numbers.
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