Financial reporting is the financial results of an organization that are released to its stakeholders and the public. This reporting is a key function of the controller who may be assisted by the investor relations officer if an organization is publicly held. The financial reporting process is considered by many to be the single most important function of an accounting system. However, even the best accounting system can't overcome a flawed financial reporting process. Some of the issues of financial reporting are overall impact of the financial crisis on financial statements, Management’s Discussion and Analysis (MD&A), reverse mergers and back door registrations, business combinations, valuation of equity transactions, smaller reporting company status, disclosure controls and procedures, and internal controls over financial reporting.

Aparika Sharma

106 resources

0

0

1

Like