imported>Doug Williamson |
imported>Doug Williamson |
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| 1. ''External.''
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| Financial reporting is traditionally external.
| | The processing of criminal proceeds to disguise their illegal origin. |
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| It is concerned with collating and providing information to external stakeholders, the financial markets and the public.
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| Contrasted with management accounting, which provides information for internal stakeholders.
| | == See also == |
| | | * [[Anti money laundering]] |
| | | * [[Countering the financing of terrorism]] (CFT) |
| | | * [[European Economic Area]] |
| :<span style="color:#4B0082">'''''The objective of financial reporting (International Financial Reporting Standards overview)'''''</span>
| | * [[4MLD]] |
| | | * [[5AMLD]] |
| :The users of financial information need to assess:
| | * [[Financial Action Task Force]] |
| | | * [[Integration]] |
| :*Prospects for future net cash inflows to the reporting entity; and
| | * [[Joint Money Laundering Intelligence Taskforce]] |
| :*Management's stewardship of the entity's economic resources.
| | * [[Joint Money Laundering Steering Group]] |
| | * [[National Economic Crime Centre]] |
| | * [[Know-your-customer]] |
| | * [[Layering]] |
| | * [[MLRO]] |
| | * [[Office for Professional Body Anti-Money Laundering Supervision]] |
| | * [[Placement]] |
| | * [[Smurfing]] |
| | * [[SOCA]] |
| | * [[TF]] |
| | * [[USA PATRIOT Act]] |
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| :Accordingly, financial reporting seeks to provide information about:
| | == Other resource== |
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| :*The entity's economic resources (assets), claims against the entity (liabilities) and changes in those resources and claims; and | | [[Media:2015_03_Mar_-_Squeaky_clean.pdf| Squeaky Clean, The Treasurer, 2015]] |
| :*How efficiently and effectively management has discharged its responsibilities to use the entity's economic resources.
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| External reporting is mandatory for all limited liability companies, regardless of who owns them.
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| However, smaller and privately owned companies do have relatively lighter (mandatory) reporting requirements.
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| All companies may choose to publish more than the minimum mandatory information.
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| Financial reporting is also known as ''financial accounting''.
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| 2. ''Internal.''
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| The term 'financial reporting' is also used by some organisations in a broader sense, to include internal reporting (as well as external). | |
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| == See also ==
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| * [[Accounts]]
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| * [[Annual report]]
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| * [[Assets]]
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| * [[Closing exchange rate]]
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| * [[Company]]
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| * [[Conceptual framework]]
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| * [[Credit]]
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| * [[Entity]]
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| * [[Environmental profit and loss]]
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| * [[Equity]]
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| * [[Finance]]
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| * [[Financial accounting]]
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| * [[Fiscal]]
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| * [[FP&A]]
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| * [[Incremental]]
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| * [[International Financial Reporting Standards]] (IFRS)
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| * [[International Integrated Reporting Council]] (IIRC)
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| * [[Liabilities]]
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| * [[Limited liability company]]
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| * [[Management accounting]]
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| * [[Management efficiency ratio]]
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| * [[Performance]]
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| * [[Position]]
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| * [[Primary statements]]
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| * [[Private company]]
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| * [[Shareholder]]
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| * [[Small and Medium-sized Enterprises]]
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| * [[Stakeholder]]
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| * [[Stewardship]]
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| * [[Sustainability Accounting Standards Board]] (SASB)
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| * [[Sustainable Finance Disclosure Regulation]] (SFDR)
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| * [[Useful financial information]]
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| * [[Value Reporting Foundation]] (VRF)
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| [[Category:Accounting,_tax_and_regulation]] | | [[Category:Accounting,_tax_and_regulation]] |
| | [[Category:The_business_context]] |
| | [[Category:Compliance_and_audit]] |