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ORDINANCE NO. 142022OFFERED BY: Mr. Carload ORDINANCE TO TRANSFER FIFTEEN THOUSAND DOLLARS ($15,000) FROM THE GENERAL FUND (1000) TO THE TERM BENEFITS FUND, AND DECLARING AN EMERGENCY. WHEREAS, Council
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Gather all necessary financial documents such as income statements, balance sheets, and cash flow statements.
02
Start by inputting the company's revenue and expenses in the income statement.
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Next, record the company's assets and liabilities in the balance sheet.
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Finally, calculate the net income or loss and cash flow for the period.

Who needs basic financial statements?

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Business owners who want to track their company's financial performance.
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Investors who require financial statements to make informed investment decisions.
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Lenders who need to evaluate a company's financial health before extending credit.
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Government agencies that require financial statements for tax purposes.
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Basic financial statements are documents that provide an overview of a company's financial position and performance.
Companies, organizations, and other entities that are subject to financial reporting requirements are required to file basic financial statements.
Basic financial statements are typically prepared by gathering financial data, organizing it in the required format, and then following the guidelines provided by accounting standards.
The purpose of basic financial statements is to provide stakeholders with information about a company's financial health and performance.
Basic financial statements typically include a balance sheet, income statement, cash flow statement, and notes to the financial statements.
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