How financial reporting is carried out

Who needs financial statements, who uses it

The preparation of financial statements is simultaneously a sphere of responsibility for the Department of Financial Accounting.

These reports must display all those operations that are carried out by the company throughout the entire reporting period. They are used by shareholders and management, as well as banks and investors and are presented to the general public so that everyone can see that the company is flourishing and is in “good health”. Large companies in this case most often transmit reports in order to conduct their own independent audit and thereby confirm the information in it to verify the fact of its reliability.