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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ___FORM 10Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period
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As of December 31 refers to the financial reporting or assessment date that marks the end of the financial year for many organizations. It is often the cutoff point for financial statements and tax filings.
Typically, corporations, partnerships, and other entities that adhere to annual reporting requirements need to file their financial statements and tax returns as of December 31. This includes both public and private companies depending on jurisdiction.
To fill out financial statements as of December 31, organizations must collect all financial data up to that date, prepare balance sheets, income statements, and cash flow statements, and ensure all relevant accounting standards and regulations are adhered to.
The purpose is to provide a clear financial overview of an organization at the end of its fiscal year, enabling stakeholders to assess its financial performance, tax obligations, and compliance with accounting standards.
Organizations must report financial statements including the balance sheet, income statement, cash flow statement, and notes to the financial statements, covering assets, liabilities, equity, revenues, and expenses.
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