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FRANKFORT INDEPENDENT SCHOOL DISTRICT Frankfort, Kentucky ___ FINANCIAL STATEMENTS June 30, 2023CONTENTS Independent Auditors Report .............................................................................................................
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Audited financial statements in June refer to financial reports that have been examined by an independent auditor, typically prepared for the end of the fiscal year or specific reporting period that concludes in June.
Entities such as publicly traded companies, certain nonprofit organizations, and other businesses subject to regulatory requirements are typically required to file audited financial statements in June.
To fill out audited financial statements, gather financial data, prepare the income statement, balance sheet, and cash flow statement, and ensure that all information complies with applicable accounting standards before submitting it to an auditor for verification.
The purpose of audited financial statements is to provide assurance to stakeholders that the financial statements are accurate and free from material misstatement, thus enhancing credibility and trust.
Audited financial statements must include details such as the company’s income, expenses, assets, liabilities, equity, cash flows, notes to the financial statements, and auditors' opinion.
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