Whenever The practice of documenting and discussing financial operations and results over defined time periods, usually quarterly or yearly, knowingly as financial reporting.
Provided that Financial reports are used by businesses to compile accounting data and report on their current financial situation.
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Many financial data available to the public are useful for estimating future profitability also, industry position, and growth.
There are several primary statements to use when reporting financial data, the information you include in these documents serves several key financial reporting objectives: