imported>Doug Williamson |
imported>Doug Williamson |
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| 1. ''External.''
| | ''Banking''. |
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| Financial reporting is traditionally external.
| | The technique used by banks for calculating interest on balances in a notional cash pool. |
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| It is concerned with collating and providing information to external stakeholders, the financial markets and the public.
| | Excess funds in the accounts of a company or its subsidiaries are used to offset deficits in other company accounts for the purpose of determining interest earned or owed. |
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| Contrasted with management accounting, which provides information for internal stakeholders.
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| :<span style="color:#4B0082">'''''The objective of financial reporting (International Financial Reporting Standards overview)'''''</span>
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| :The users of financial information need to assess:
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| :*Prospects for future net cash inflows to the reporting entity; and
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| :*Management's stewardship of the entity's economic resources.
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| :Accordingly, financial reporting seeks to provide information about:
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| :*The entity's economic resources (assets), claims against the entity (liabilities) and changes in those resources and claims; and
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| :*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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| | Notional pooling is also referred to as interest offset pooling. |
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| == See also == | | == See also == |
| * [[Accounts]] | | * [[Cash pool]] |
| * [[Annual report]] | | * [[CertICM]] |
| * [[Assets]] | | * [[Cross-guarantees]] |
| * [[Closing exchange rate]] | | * [[Interest rate enhancement]] |
| * [[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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| * [[Financial planning and analysis]]
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| * [[Fiscal]]
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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:Long_term_funding]] |
| | [[Category:Cash_management]] |
