Financial Reporting
/ˌfaɪnænʃəl rɪˈpɔːrtɪŋ/
Definitions
- (n.) The process of producing financial statements that disclose an organization's financial status to stakeholders, ensuring compliance with accounting standards and legal requirements.
Financial reporting must comply with the applicable accounting principles and legal regulations.
Related terms
See also
Commentary
Financial reporting consolidates financial data into formal statements subject to both accounting and legal standards; precision in terminology is crucial in legal drafting to avoid ambiguity regarding compliance obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.