financial reporting Flashcards
refers to
standard practices to give
stakeholders an accurate
depiction of a company’s finances,
including their revenues,
expenses, profits, capital, and
cash flow, as formal records that
provide in-depth insights into
financial information.
FINANCIAL REPORTING
o provide information about the
financial position, performance and
changes in financial position of an
enterprise that is useful to a wide range
of users in making economic decisions.
FINANCIAL REPORTING
This particular report tells you how
much money a company made (or lost)
in a given time period (typically a fiscal
year
INCOME STATEMENT
This piece of financial reporting
software offers a snapshot of your
assets and liabilities (aka debts) at a
given moment in tim
BALANCE SHEET
This report shows how much money flowed into and out of your business during a period of tim
CASH FLOW STATEMENT
What is FASB?
FINANCIAL ACCOUNTING STANDARDS BOARD
WHAT IS GASB?
GOVERNMENTAL ACCOUNTING STANDARDS BOARD
WHAT IS IASB?
INTERNATIONAL ACCOUNTING STANDARDS BOARD
sets accounting
rules for public and private companies and nonprofits in the United
States
FASB
set rules for state ang local government?
GASB
to establish compatible standards worldwide?
IASB
What is GAAP?
GENERAL ACCEPTED ACCOUNTING PRINCIPLES
WHAT IS IFRS?
INTERNATIONAL FINANCIAL REPOSTING STANDARS
What is GDPR?
THE GENEREL DATA PROTECTION REGULATION
This system is used by the government of united states?
GENERAL ACCEPTED ACVOUNTING PRINCIPLES
