Term Paper final 1
SOUND FINANCIAL REPORTING IS A GOOD THING FOR BRINGING CONFIDENCE BACK TO THE CORPORATE WORLD
Submitted By: Ahmed Shafiul Huq 801414063 Principle of Accounting (EIB505) Section: B Executive Master of Business Administration
Submitted To: Mr. Mohammad Rakib Uddin Bhuiyan Assistant Professor Department of International Business Faculty of Business Studies
EXECUTIVE SUMMARY
A company’s financial reporting amalgamates important documents to create an effective spreadsheet to simplify the financial data of an organization. It captures much of the information that organizations prepare, publish, and use. Financial reporting plays an integral role in the capital markets and economic stability and growth, and efforts to enhance its quality are vital. A Sound Financial Reporting provides us relevant, meaningful, reliable, accurate and comprehensive reporting of management stewardship whether in the form of numbers or other operating data. It is increasingly important for businesses to be financially transparent and for governments to establish a sound regulatory environment for corporate financial reporting. Sound financial reporting can benefit business by some ways just like valuing business, easy to identify items, present business to prospective buyers effectively, able to explain changes in the business over time, spend less money on accounting and consulting fees etc. When we need to sell the business accurate financial data helps a lot by many ways. These are streamlining valuation, making it easy to answer buyers' questions, confirming your company's value during due diligence, avoiding cash outlays after closing the sale. Financial reporting is the fundamental source of independently certified information about the performance of
Submitted By: Ahmed Shafiul Huq 801414063 Principle of Accounting (EIB505) Section: B Executive Master of Business Administration
Submitted To: Mr. Mohammad Rakib Uddin Bhuiyan Assistant Professor Department of International Business Faculty of Business Studies
EXECUTIVE SUMMARY
A company’s financial reporting amalgamates important documents to create an effective spreadsheet to simplify the financial data of an organization. It captures much of the information that organizations prepare, publish, and use. Financial reporting plays an integral role in the capital markets and economic stability and growth, and efforts to enhance its quality are vital. A Sound Financial Reporting provides us relevant, meaningful, reliable, accurate and comprehensive reporting of management stewardship whether in the form of numbers or other operating data. It is increasingly important for businesses to be financially transparent and for governments to establish a sound regulatory environment for corporate financial reporting. Sound financial reporting can benefit business by some ways just like valuing business, easy to identify items, present business to prospective buyers effectively, able to explain changes in the business over time, spend less money on accounting and consulting fees etc. When we need to sell the business accurate financial data helps a lot by many ways. These are streamlining valuation, making it easy to answer buyers' questions, confirming your company's value during due diligence, avoiding cash outlays after closing the sale. Financial reporting is the fundamental source of independently certified information about the performance of