What is Financial Reporting and Why is it Essential?
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Financial reporting is the process of creating and sharing financial statements that show a company's financial performance and position. These reports include important documents like the income statement, balance sheet, and cash flow statement. Financial reporting is essential because it helps businesses track their income and expenses, understand their financial health, and make informed decisions. It also provides transparency to investors, creditors, and regulators, helping them assess the company's performance and risks. Accurate financial reports can build trust and support better plan
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What is Financial Reporting and Why is it Essential?
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