Description
I need help with the following:
Before you prepare the financial statements for a Public Health Center, you need to review the financial reporting requirements for governmental and nonprofit organizations.
- The governing authority for regulating the financial reporting of both governmental and nonprofit organizations.
- The financial statements required.
- What is required in the notes and other narratives in the annual report?
Explanation & Answer
Hello here is the work. look forwad to work with you again.Thank you
FINANCIAL STAEMENTS
A financial statement or report is a record of financial functions and state of an organization,
person, or any other institution. A relevant financial statement portrays all necessary information
in a structured way that is easy to understand. In large corporations, financial statements are
more complex and include extensive sets of footnotes describing the financial
report and management decisions and analysis. These notes describe each item presented on the
balance-sheet, the income statement and reports regarding cash flow in clearer detail. The notes
included in financial statements carry a lot of importance and are considered part of the financial
report.
Since financial report display the performan...
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