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Financial reporting is the process of producing statements on specific formats sometimes specified by the financial reporting standards that disclose an organization's financial status to management, investors, finance providers, government and other stakeholders.
By simple answer the output of the company result for specific period which asses users to take decision
preparation of financial statements.
Financial reporting is the process of converting all financial data (concerning the company 's activities and daily operations) into4 main financial statements :
1-statement of financial position
2- statement of profit or loss and other comprehensive income
3-statement of cash flow
4- statement of changes in equity
Along with disclosures in accordance to a financial reporting framework (US GAAP / IFRS)
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