Financial reporting is a standard accounting practice that uses financial statements to disclose a company's financial information and performance over a particular period, usually on an annual or quarterly basis. The objective of financial reporting is to track, analyse and report your business income. The purpose of these reports is to examine resource usage, cash flow, business performance and the financial health of the business. This helps you and your investors make informed decisions about how to manage the business. For financial statements to be useful, they must be accurate. Unfortunately, these reports often depend on subjective judgement calls, offer misleading comparisons, and fall prey to manipulation due to misaligned incentives. The common issues faced by the management in financial reporting are detailed in the presentation for better understanding. Please see.

Sreekala P

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