Financial Reporting | Learn Accounting: Notes, Procedures, Problems and Solutions

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7 Major Limitations of Financial Reporting

The following points highlight the seven major limitations of financial reporting. 1. The objectives of financial reporting are affected not only by the environment in which financial reporting takes place but also by the characteristics and limitations of the kind of information that financial reporting, and particularly financial statements, can provide. The information is to a significant extent financial information [...]

By Manukriti Nandwani|2016-06-18T07:01:57+00:00June 18, 2016|Financial Reporting|Comments Off

Financial Reporting: Concept, Objectives and Benefits

In this article we will discuss about Financial Reporting:- 1. Concept of Financial Reporting 2. Objectives of Financial Reporting 3. Developments on Financial Reporting Objectives Concept of Financial Reporting: Financial reporting may be defined as communication of published financial statements and related information from a business enterprise to third parties (external users) including shareholders, creditors, customers, governmental authorities and the [...]

By Manukriti Nandwani|2016-06-18T07:01:37+00:00June 18, 2016|Financial Reporting|Comments Off