Financial reporting is the process of disclosing financial information to stakeholders, providing a clear picture of a company’s performance and financial position. This includes preparing key documents such as income statements, balance sheets, cash flow statements, and statements of shareholders’ equity.

Key Components Accuracy: Ensuring data is precise and reliable. Transparency: Providing clear and comprehensive information. Compliance: Adhering to regulatory standards and accounting principles. Effective financial reporting supports informed decision-making, enhances investor confidence, and ensures regulatory compliance, contributing to the overall stability and growth of the business.