A Financial Report is a report is a formal record of the financial activities of a business, person, or other entity.
Councils are required to prepare financial reports annually.
The Victorian Auditor-General's Office defines a Financial Report as: "A document reporting the financial outcome and position of an entity for a financial year, which contains an entity's financial statements, including a comprehensive income statement, a balance sheet, a cash flow statement, a comprehensive statement of equity and notes." 6
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