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Financial Statements ofTHE STUDENTS UNION, THE UNIVERSITY OF ALBERTA Year ended April 30, 2017KPMG LLP 2200,10175 101 Street Edmonton AB T5J 0H3 Canada Telephone (780) 4297300 Fax (780) 4297379INDEPENDENT
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How to fill out financial statements 2014-2015
01
Gather all the necessary financial documents such as balance sheets, income statements, and cash flow statements for the accounting period of 2014-2015.
02
Organize the documents in chronological order to ensure accuracy and completeness.
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Fill out the basic information such as the name of the company, accounting period, and reporting currency.
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Calculate and input the total assets, liabilities, and equity for the period.
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Record the revenue and expenses for the period to calculate the net income.
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Review the financial statements for accuracy and make any necessary adjustments before finalizing.
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Business owners who want to track the financial performance of their company for the years 2014-2015.
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What is financial statements?
Financial statements are formal records that outline the financial activities and position of a business, entity, or individual. They include the balance sheet, income statement, cash flow statement, and statement of changes in equity.
Who is required to file financial statements?
Generally, public companies, certain private companies, and non-profit organizations are required to file financial statements. The specific requirements can vary based on jurisdiction and regulatory authority.
How to fill out financial statements?
To fill out financial statements, gather accurate financial data, follow the prescribed format, categorize income and expenses, prepare supporting documentation, and ensure compliance with accounting standards before submitting.
What is the purpose of financial statements?
The purpose of financial statements is to provide a clear and structured overview of an entity's financial performance and position, helping stakeholders make informed economic decisions.
What information must be reported on financial statements?
Financial statements must report information such as assets, liabilities, equity, revenues, expenses, and cash flows. They may also include notes and disclosures providing additional context.
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