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What is financial report?

Updated: 9/23/2023
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11y ago

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stockholders creditors suppliers and employees

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Cameron Hirthe

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2y ago
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Q: What is financial report?
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Do the terms financial reporting and financial statement mean the same thing explain?

No they do not mean the same thing. Financial reporting is the more indept report. A financial statment are a subset of the total information in the financial report.


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What is finacial report measures results for a period of time?


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An audit report is an opinion that is written by an auditor to show if the financial statements are correct. The auditor will indicate if they state the true financial position of the company.


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external auditors focus primarily on controls that affect financial reporting. External auditors have a responsibility to report internal control weaknesses (as well as reportable conditions about internal control)


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Financial statementsAuditor reportManagement ReportManagement Discussion and AnalysisNotes of Financial DataSummary of Financial Data