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Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
Annual report, yearly report on a company's activities; Financial reporting, formal record of the financial activities and position of a business, person, or other entity; SEC filings, type of financial statements in the United States
Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. [1]
In the United States, a more-detailed version of the report, called a Form 10-K, is submitted to the U.S. Securities and Exchange Commission. [2] A publicly held company may also issue a much more limited version of an annual report, which is known as a "wrap report." A wrap report is a Form 10-K with an annual report cover wrapped around it. [3]
In December 2017, Charlie Hoffman stated that there is a 10.2% chance that an XBRL-based public company financial report has errors in its primary financial statements. Hoffman predicts that per the current number of errors and the pace errors are being corrected, within about five years the information quality of XBRL-based public company ...
Financial accounting and financial reporting are often used as synonyms. 1. According to International Financial Reporting Standards: the objective of financial reporting is: To provide financial information that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the ...
BAI, or the BAI file format, is a file format for performing electronic cash management balance reporting. The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [ 1 ]
A big advantage of computer-based accounting information systems is that they automate and streamline reporting, develop advanced modelling and support data mining. [1] Reporting is major tool for organizations to accurately see summarized, timely information used for decision-making and financial reporting. The accounting information system ...