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Notes On Financial Reporting And Analysis

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Published in: Accounting
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Notes explaining the role of financial reporting and analysis.

Mahafrin F / Dubai

10 years of teaching experience

Qualification: MBA Finance and Operations Specialization, BBA Finance, Expert English Language Trainer (IELTS, TOEFL, ESL)

Teaches: English, Accounting, Business, English As A Second Language, English Language, Accounts, Business Studies, Maths

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  1. LOS 21.a: Describe the roles of financial reporting and financial statement analysis. CFA' program Curriculum, Volume 3, page 6 Financial reporting refers to the way companies show their financial performance to investors, creditors, and other interested parties by preparing and presenting financial statements. According to the IASB Conceptual Framework for Financial Reporting 2010: "The objective of general purpose financial reporting is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the entity. Those decisions involve buying, selling or holding equity and debt instruments, and providing or settling loans and other forms of credit." The role of financial statement analysis is to use the information in a companfs financial statements, along with other relevant information, to make economic decisions. Examples of such decisions include whether to invest in the companfs securities or recommend them to investors and whether to extend trade or bank credit to the company. Analysts use financial statement data to evaluate a company's past performance and current financial position in order to form opinions about the company's ability to earn profits and generate cash flow in the future. Professor's Note: This topic reWew deals with financial analysis for external users, Management also performs financial analysis in making everyday decisions. Homer, management may rely on internal finnciol *motion that is likely maintained in o different format and unovailobk to external users.
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