Financial reporting in accounting refers to the process of presenting financial information about a company’s performance and financial position to external parties, such as investors, creditors, regulators, and other stakeholders. The primary purpose of financial reporting is to provide relevant, accurate, and timely information that allows these external users to make informed decisions about the company.
Cash Flow Statement: This statement outlines the company’s cash inflows and outflows during a specific period, categorized into operating, investing, and financing activities.
Cash flow statements are important for several reasons as they provide valuable insights into a company’s financial health and performance. Here are some key reasons why cash flow statements are essential:
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This article was published on 23 July 2023
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