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How To Write a Financial Report

 Financial reports or financial statements are documents that record the financial activities of an individual or a business. It is also referred to as an “account” which contains all pertinent financial data presented in a well-prepared method in a format that is simple to comprehend.

There are four fundamental financial statements:

 

 

To prepare a thorough and effective financial report, the following must be taken into consideration:

 

 

Financial reports are not only used for business enterprises but for other purposes as well. Though they may vary in preparation methods, they can all benefit through this organized system of recording financial information. In the case of personal financial statements, an individual is required to present this report when applying for a personal loan or financial assistance. The report consists of a single form containing an individual’s assets and liabilities, which in turn is deliberated on by the organization from which the loan is being applied for. Government financial statements are also vital information required from a particular agency, as well as other non-profit organizations such as charitable organizations and voluntary associations. It is important for a financial report to be easily understood, relevant, consistent, and comparable. If your report contains all these elements, then you are sure to have a valuable tool in accurately assessing your financial status, both personal and business-wise.

Source: http://www.howtodothings.com/business/how-to-write-a-financial-report

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