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Consolidated Financial Statements corporation OF THE CITY OF NEW WESTMINSTER And Independent Auditors Report thereon Year ended December 31, 2022MANAGEMENTS RESPONSIBILITY FOR FINANCIAL REPORTING
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Gather all necessary financial documents such as income statements, balance sheets, and cash flow statements.
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Financial statements are reports that show the financial performance and position of a company. They include the balance sheet, income statement, cash flow statement, and statement of changes in equity.
Publicly traded companies, private companies with a certain level of revenue or assets, and nonprofit organizations are typically required to file financial statements.
Financial statements are filled out by compiling financial data from the accounting records of a company and organizing it into the required format for each statement.
The purpose of financial statements is to provide information about the financial performance, position, and cash flows of a company to stakeholders such as investors, creditors, and regulators.
Financial statements must report on the company's assets, liabilities, equity, income, expenses, cash flows, and changes in equity.
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