1. Key Components
Financial Reporting Essentials
1. Key Components
Balance Sheet, Income Statement, Cash Flow Statement, Statement of Changes in Equity, Notes to Financial Statements
2. Types of Reports
External Statements, Quarterly/Annual Reports, SEC Filings, MD&A, Earnings Reports, Internal Reports
3. Importance
Legal Compliance, Decision Making, Performance Evaluation, Transparency
Best Practices for Financial Reporting
Adhere to Standards
Follow GAAP or IFRS as required
Ensure Accuracy
Provide a true and fair view of finances
Maintain Consistency
Use consistent accounting methods
Utilize Technology
Employ financial reporting software
Deadlines and Penalties
Filing Requirements
Public companies must file quarterly 10-Q reports and annual 10-K reports with the SEC
Monetary Fines
Failure to meet deadlines can result in fines up to $500 per day for ongoing noncompliance
Severe Consequences
Criminal penalties of up to $10,000 and/or imprisonment for knowingly submitting false information
Comprehensive Tax Services
Individual Services
Tax preparation, planning, and filing for individuals. Our clients have saved an average of $37,000 through our strategic tax planning.
Business Services
Comprehensive tax services for small businesses, including audit support. Our business clients have saved an average of over $138,000.
Free Tax Consultation
Cutting-Edge Tax Software
QuickBooks
Our primary software for efficient tax preparation and planning
Advanced Tax Tools
Utilizing the latest technology to maximize savings and ensure compliance
Your Trusted Financial Partner
Contact Fiscal Integrity Group Today
Business Hours
Monday - Friday: 9:00 am - 5:00 pm
Extended hours during tax seasons
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