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Theannualaccountingstatementsreflectall the facts of the organization's businesslife that occurredduring the financialyear: the movement of assets,equityandliabilities,cashflows, the accumulation of incomeandexpenses, and the formation of financialresults.
Usually financial year = calendar year, and starts from January.
Example: Via Statement of financial position (balance sheet) report is needed to analyse May 2024
Problem: How to change the Financial year starts
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