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KPMG LLP 205 5th Avenue SW Suite 3100 Calgary AB T2P 4B9 Tel 4036918000 Fax 4036918008 www.kpmg.caINDEPENDENT AUDITORS REPORT To the Board of Directors of Big Brothers Big Sisters Society of Calgary
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Financial statements are formal records that provide an overview of the financial activities and position of a business, organization, or individual.
Typically, publicly traded companies, certain private companies, non-profit organizations, and any entities required by law or regulation must file financial statements.
Financial statements should be filled out by compiling accurate financial data, following standard accounting principles, and using specific formats for balance sheets, income statements, and cash flow statements.
The purpose of financial statements is to provide stakeholders with essential information about the financial status, performance, and cash flows of an entity, aiding in decision-making.
Financial statements must report assets, liabilities, equity, revenues, expenses, profits or losses, and cash flows.
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