Mind Map Of Financial Reporting

This is a Mind Map Of Financial Reporting. Financial statements (sometimes known as financial reports) are formal records of a company's financial actions and standing. "The purpose of financial statements is to give information about an enterprise's financial situation, performance, and changes in financial status that may be used by a variety of users to make economic decisions." Financial statements should be easy to comprehend, relevant, trustworthy, and comparable. The financial condition of an organization is directly tied to its reported assets, liabilities, equity, revenue, and expenses. Financial statements are meant for readers who have "reasonable knowledge of business and economic activity, as well as accounting, and who are willing to thoroughly analyze the information." In EdrawMind community, you can get more templates related to finance or other topics in study, work and life.