Advanced Financial Reporting and Analysis

Description

Corporate reporting is an essential and valuable communication tool between management and other stakeholders of the company. There are a number of evolutionsof corporate reporting from 1960 to at present (IIRC, 2011). Financial reporting plays an important role in the corporate reporting of an entity, which includes financial transactions and events of an entity for a period. Financial reporting provides financial information on financial performance and position to economic decision makers. Today, many companies are operating under a group; therefore, preparation and usage of consolidated financial statements are increased in the business environment. As well as, stakeholders of a company are from varying levels of educational background and different educational background, therefore they expect not only financial reporting but also financial reporting analysis. Especially financial statement analysis, through the financial statement analysis by an experienced and professional financial statement analyzer, shareholders may have better understanding rather than going through the financial statements of an entity.