Financial Reporting
Financial reporting is the disclosure to internal management and outside stakeholders of the financial results and related information about how a firm is operating over a specified time period. The major goal is to offer data about an enterprise’s performance and changes in its financial position that can assist a wide variety of users in making numerous financial decisions.
To achieve a competitive edge in the market, any organisation must be efficient in its financial reporting. In order to assess an organization’s financial stability, various types of reports must be created and data must be analysed. To put it another way, financial reports would give the company an analysis of how well it has performed in the past and how well it is operating right now.
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