Chapter 10
Producing Financial Reports
IN THIS CHAPTER
Reviewing the purposes of financial reports
Keeping up to date on accounting and financial reporting standards
Ensuring that disclosure is adequate
Nudging the numbers to make profit and solvency look better
Comparing financial reports of public and private companies
Dealing with information overload in financial reports
Financial statements are the core content of a financial report, to be sure. But the term financial report connotes more content than the basic set of financial statements. To start this chapter, we briefly review the three primary business financial statements. Then we move on to a broader view of what’s in a financial report.
Lest you think that accountants prepare the whole of a financial report, we explain the role of top management in preparing the financial report of a business. Accountants are the main ...
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