Financial Reporting | Financial Statements
What is Financial Reporting? Every business sector has different divisions, whether manufacturing or service, which work day by day to achieve organizational objectives. Such divisions may or may not work interdependently but at the end of the day they are connected together by one common thread – Accounting & Finance . The accounting & financial aspects are registered for each and every organization and are communicated to different stakeholders. There are two main forms of reporting-Financial reporting for various stakeholders & Management reporting for an organization's internal management. All of these reports are essential and are an integral part of an organization's accounting and reporting system. Yet given the number of stakeholders involved and the legislative & other regulatory criteria, financial reporting is an organization's most significant and crucial activity. Corporate Governance is a crucial aspect of this. Throughout the following sect