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Financial reporting is one of the most crucial aspects of any company’s success. Done right, financial statements provide an accurate picture of your organization’s outlook and performance. If they go wrong, on the other hand, inaccurate financial statements can spell disaster, causing shareholders to lose confidence in your company or your company to inadvertently exceed its budget. Finding discrepancies between your income statement and profitability reports can be a jarring experience that leaves you searching for answers and solutions. There are three main reasons you may be encountering these problems- you’re using different information, you’re analyzing data incorrectly, and you’re running on different schedules.
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