Financial reporting and Terabyte: Difference between pages

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imported>Doug Williamson
(Expand first definition. Source: IFRS Conceptual Framework.)
 
imported>Doug Williamson
m (Categorise.)
 
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1.
''Information technology''


Financial reporting is traditionally external.
(TB).


It is concerned with collating and providing information to external stakeholders, the financial markets and the public.
A terabyte of information is roughly a thousand times the largest Encyclopaedia.




2.  
Definitions vary, but it is approximately a thousand gigabytes.


The term 'financial reporting' is also used by some organisations in a broader sense, to include internal reporting (as well as external).
This would be one trillion (1,000,000,000,000) bytes.


In some definitions it is approximately 1.1 trillion (= 2<sup>40</sup>) bytes.


Financial reporting is also known as ''financial accounting''.


==See also==
*[[Byte]]
*[[Trillion]]
*[[Kilobyte]]
*[[Megabyte]]
*[[Gigabyte]]


===The objective of financial reporting (IFRS)===
[[Category:Technology]]
 
The users of financial information need to assess:
 
*Prospects for future net cash inflows to the reporting entity; and
*Management's stewardship of the entity's economic resources.
 
 
Accordingly, financial reporting seeks to provide information about:
 
*The entity's economic resources (assets), claims against the entity (liabilities) and changes in those resources and claims; and
*How efficiently and effectively management has discharged its responsibilities to use the entity's economic resouces.
 
 
== See also ==
* [[Closing exchange rate]]
* [[Conceptual framework]]
* [[Credit]]
* [[Entity]]
* [[Financial accounting]]
* [[FP&A]]
* [[International Financial Reporting Standards]] (IFRS)
* [[Management accounting]]
* [[Management efficiency ratio]]
* [[Stakeholder]]
* [[Stewardship]]
 
[[Category:Accounting,_tax_and_regulation]]

Revision as of 15:17, 28 February 2018

Information technology

(TB).

A terabyte of information is roughly a thousand times the largest Encyclopaedia.


Definitions vary, but it is approximately a thousand gigabytes.

This would be one trillion (1,000,000,000,000) bytes.

In some definitions it is approximately 1.1 trillion (= 240) bytes.


See also

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