Remove Calculations into the Financial Statement (Personal)

Aug 6th, 2022
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How to Remove Calculations into the Financial Statement (Personal)

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when you go to apply for an sba loan one of the very first things your lender is going to request is the personal financial statement or 413 as the sba calls it government really needs to get better at naming forms anywho based on my 10 plus years experience as an sba lender youre gonna get this form wrong more often than you get it right and thats gonna lead to unnecessary back and forth between you and your lender and nobody wants that hey im ray drew an actual sba lender and in this video im gonna show you step by step how to fill out the 413 and at the end of this video im going to share the number one mistake applicants make when completing this form [Music] first of all make sure youre filling out the right version of the personal financial statement the sba updates it every couple of years in the top right of page one youll see an expiration date if the form is expired you have the wrong one page 1 shows the instructions for the form and based on my experience 99 of peopl

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Its calculated by simply subtracting total liabilities from total assets. The difference is your net worth. If you need help calculating it yourself, our Money Management tool in Online Banking and the Mobile App can help you calculate your net worth when you add all of your accounts!
Accounting fraud is the illegal alteration of a companys financial statements in order to manipulate a companys apparent health or to hide profits or losses. Overstating revenue, failing to record expenses, and misstating assets and liabilities are all ways to commit accounting fraud.
Intentional misrepresentation of financial statements can result in legal action, arrest and imprisonment of executives, penalties and fines. The SEC Division of Enforcement investigates and administers enforcement actions for these cases.
Making a false financial statement is a wobbler offense in California, meaning it may be prosecuted either as a misdemeanor or a felony.
A personal financial statement is a snapshot of your personal financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe), and your net worth. To get your net worth, subtract liabilities from assets.
A personal financial statement (PFS) is for organizing and measuring an individuals or familys financial status. The PFS has two chief sections: a cashflow assessment of income and outflows, as well as a balance sheet which displays ones overall assets, liabilities, and overall net worth.

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