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This document includes the financial statements for Excelsior a.d., Beograd, detailing the company\'s financial position, income statement, cash flows, and the independent auditor\'s report for the

How to fill out financial statements

How to fill out financial statements

1. Gather all relevant financial documents, including income statements, balance sheets, and cash flow statements.
2. Start with the income statement: list all sources of revenue and subtract all expenses to determine net income.
3. Move to the balance sheet: list all assets (what you own), liabilities (what you owe), and equity (owner's claim) at a specific point in time.
4. Prepare the cash flow statement: categorize cash inflows and outflows into operating, investing, and financing activities.
5. Ensure all statements reflect the same reporting period and are consistent in terms of accounting methods.
6. Review and cross-verify figures to ensure accuracy and completeness.
7. Consult with a financial advisor or accountant if needed for clarity or to ensure compliance with legal and accounting standards.

Who needs financial statements?

1. Business owners use financial statements to assess the financial health of their business.
2. Investors evaluate financial statements to make informed decisions about purchasing stocks or investing in a company.
3. Lenders require financial statements to determine creditworthiness before approving loans or credit.
4. Regulatory authorities use financial statements to ensure compliance with laws and regulations.
5. Potential business partners review financial statements to gauge the viability of entering into a joint venture or partnership.

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What is financial statements?

Financial statements are formal records of the financial activities and position of a business, organization, or individual. They provide a summary of the financial performance and financial position over a specific period.

Who is required to file financial statements?

Generally, publicly traded companies, large private companies, and some non-profit organizations are required to file financial statements. Requirements can vary by jurisdiction and regulatory body.

How to fill out financial statements?

To fill out financial statements, you need to gather all financial records such as invoices, bank statements, receipts, and maintain accurate bookkeeping. Then, report revenues, expenses, assets, liabilities, and equity according to the relevant accounting principles or standards.

What is the purpose of financial statements?

The purpose of financial statements is to provide stakeholders such as investors, creditors, and management with an accurate representation of the company's financial health, enabling informed decision-making.

What information must be reported on financial statements?

Financial statements must report information including the company's revenues, expenses, net income, assets, liabilities, and shareholders' equity. Additionally, they may include notes and disclosures explaining accounting policies and other relevant details.