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Get the free comprehensive annual financial report - City of Southfield

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CITY OF SOUTHFIELD Department of Building & Safety Engineering 26000 Evergreen Road Southfield, MI 48076 Telephone Number: (248) 7964177 Fax Number: (248) 7964105 Application for Bingham Farms Inspection
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Gather all financial data and records for the reporting period.
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Prepare financial statements according to established accounting principles.
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Include a management discussion and analysis section.
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Who needs comprehensive annual financial report?

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Regulatory bodies that require financial disclosures for oversight and compliance purposes.
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Comprehensive annual financial report is a detailed document that provides information about a government entity's financial condition, results of operations, and cash flows for a specific period of time.
Government entities such as states, cities, school districts, and other local governments are required to file a comprehensive annual financial report.
Comprehensive annual financial reports are typically prepared by government entities' finance departments with the assistance of external auditors and accounting firms.
The purpose of a comprehensive annual financial report is to provide stakeholders, such as citizens, bondholders, and rating agencies, with a detailed understanding of a government entity's financial health and performance.
Comprehensive annual financial reports typically include financial statements, management's discussion and analysis, notes to the financial statements, and other supplementary information.
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