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Suppose, you have joined a firm in the accounts department as a junior executive. You are asked to prepare financial statements (except cash flow statements)

Suppose, you have joined a firm in the accounts department as a junior executive. You are asked to prepare financial statements (except cash flow statements) for the firm using the available information provided by the firm. Based on the knowledge you have acquired from the course so far, explain the steps to be taken before preparing the financial statements.

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