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Ontario@Financial Statement Auditor\'s Report CandidateMinistry of Municipal Affairs and Housing Form 4Municipal Elections Act, 1996 (Section 88.25)instructions All candidates must complete Boxes
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01
Gather all necessary financial information such as income, expenses, assets, and liabilities.
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Identify and categorize all sources of income and expenses.
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Calculate the total income and total expenses for the time period being analyzed.
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Determine the net income by subtracting expenses from income.
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Prepare financial statements such as income statement, balance sheet, and cash flow statement based on the information gathered.
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What is budgets and financial statements?
Budgets are financial plans that allocate resources for specific activities, while financial statements are reports that provide information about the financial health of an organization.
Who is required to file budgets and financial statements?
Most businesses and organizations are required to file budgets and financial statements, depending on their size and legal structure.
How to fill out budgets and financial statements?
Budgets and financial statements are typically filled out by accountants or financial professionals using financial data from the organization.
What is the purpose of budgets and financial statements?
The purpose of budgets and financial statements is to provide insight into an organization's financial performance and help with decision-making.
What information must be reported on budgets and financial statements?
Budgets and financial statements must report on income, expenses, assets, liabilities, and equity.
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