imported>Doug Williamson |
imported>Administrator |
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| 1. ''External.''
| | ''Germany''. |
| | | ''Gesellschaft mit beschränkter Haftung,'' a private limited liability company. |
| Financial reporting is traditionally external.
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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.
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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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| == See also == | | == See also == |
| * [[10-K]] | | * [[Aktiengesellschaft]] |
| * [[10-Q]]
| | * [[Limited company]] |
| * [[Accounting]]
| | * [[SARL]] |
| * [[Accounts]]
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| * [[Annual report]]
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| * [[Assets]]
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| * [[Audit]]
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| * [[Audit, Reporting and Governance Authority]]
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| * [[Balance]]
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| * [[Balance sheet]]
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| * [[Boilerplate]]
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| * [[Book]]
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| *[[Cash]]
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| *[[Cash balance]]
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| *[[Cash flow]]
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| * [[Cash flow statement]]
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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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| *[[False accounting]]
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| * [[Finance]]
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| * [[Financial accounting]]
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| * [[Financial planning and analysis]]
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| * [[Financial Reporting Council]]
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| * [[Fiscal]]
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| * [[Income statement]]
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| * [[Incremental]]
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| * [[International Financial Reporting Standards]] (IFRS)
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| * [[Liabilities]]
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| * [[Limited liability company]] | |
| * [[Management accounting]]
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| * [[Management efficiency ratio]]
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| * [[Operating segment]]
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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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| * [[Reportable segment]] | |
| * [[Shareholder]]
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| * [[Small and Medium-sized Enterprises]]
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| * [[Stakeholder]]
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| * [[Statement of changes in equity]]
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| * [[Statement of comprehensive income]]
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| * [[Stewardship]]
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| * [[Sustainability Accounting Standards Board]] (SASB)
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| * [[Sustainability reporting]]
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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]]
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