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Financial year 1 January31 DecemberAnnual Report 2021 The Healthcare Professionals Pension Unapproved at the General Meeting of the Pension Fund on 29 April 2022 Chairman of the meeting: Hello North

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What is financial year 1 January-31?

The financial year from January 1 to December 31 is a period used for accounting purposes, where a company or organization tracks its financial performance over one calendar year.

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Individuals and businesses that are subject to income tax and maintain accounting records for a calendar year are required to file financial statements and tax returns for the financial year ending December 31.

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To fill out reports for the financial year, gather all financial documents, including income statements, balance sheets, and cash flow statements. Use accounting software or consult a financial professional to compile the necessary information according to the given reporting standards.

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The purpose of the financial year is to provide a consistent timeframe in which a business reports its financial performance, aiding stakeholders in analyzing financial health, profitability, and making informed decisions.

What information must be reported on financial year 1 January-31?

Businesses must report income, expenses, assets, liabilities, equity, and cash flow as part of their financial statements for the year ending December 31.

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