Financial Reporting

The practice of recording and reporting financial performance over certain time periods, often on a quarterly or annual basis, is known as financial reporting. Businesses compile accounting data and present their current financial position in financial reports. Several financial data are available for public scrutiny and are crucial in the estimates of future profitability, industry position, and growth. When reporting financial data, there are a few key statements to utilize, and the data you include in these documents satisfies a number of important goals of financial reporting:

Monitoring cash flow
Analysing shareholder equity
Assessing assets and liabilities
Measuring profitability