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What is a Financial Statement?

Part of the report prepared at the annual meeting of each complex is related to the financial parts of the building and related expenses, which shows the expenses incurred for the building during the past year and the amount saved for emergencies in the Contingency found account. As you know, condos have a monthly charge, part of which is spent on related expenses and the other part is stored as savings in an account called Contingency account for unforeseen expenses.