Financial reporting

Financial reporting is the process of preparing and publishing financial statements that provide information about a company's financial performance and position. Financial reporting is based on accounting principles and standards, which provide a framework for the consistent and comparable reporting of financial information.Financial reporting is important for a company because it provides transparency and accountability to its stakeholders, such as investors, creditors, and regulators. It also helps the company to communicate its financial performance and position to these stakeholders and make informed decisions.