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DISCOVERY: FIRM FINANCIALS PROFILE As we work on building knowledge of your firm we need to obtain certain law firm financial information and reports for review and to work towards building our analysis

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Gather all financial information such as income, expenses, assets and liabilities

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Prepare notes to accompany the financial statements providing additional details and explanations

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Publish the finalized financial reporting for stakeholders to review

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What is financial reporting?

Financial reporting is the process of creating and presenting financial statements that provide an overview of a company's financial performance and position.

Who is required to file financial reporting?

Publicly traded companies and certain private companies, as well as non-profit organizations, are required to file financial reports to disclose their financial status to stakeholders.

How to fill out financial reporting?

Financial reporting typically involves preparing balance sheets, income statements, cash flow statements, and equity statements in accordance with relevant accounting standards.

What is the purpose of financial reporting?

The purpose of financial reporting is to provide stakeholders, including investors and creditors, with relevant financial information to aid in decision-making.

What information must be reported on financial reporting?

Key information that must be reported includes revenues, expenses, net income, assets, liabilities, and cash flows.

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