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Jessamine County School District Audited Financial Statements and Required Supplementary Information June 30, 2022JESSAMINE COUNTY SCHOOL DISTRICT TABLE OF CONTENTS JUNE 30, 2022 Page Independent
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Audited financial statements are financial reports that have been reviewed and verified by an independent auditor to ensure accuracy and compliance with accounting standards.
Public companies, financial institutions, and certain non-profit organizations are generally required to file audited financial statements, often as mandated by regulatory bodies.
To fill out audited financial statements, organizations must prepare their financial reports according to Generally Accepted Accounting Principles (GAAP), have them reviewed by an auditor, and incorporate their auditor's report.
The purpose of audited financial statements is to provide stakeholders with an unbiased opinion on the accuracy of the financial statements, thereby enhancing transparency and trust.
Audited financial statements must report the balance sheet, income statement, cash flow statement, equity statement, and notes to the financial statements.
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