Objectives of Financials Reporting in Australia


Financial reporting is a regular record of the financial activities of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand, including related notes.

Objectives of Financials Reporting:
·         Financial Reporting allows users to make and evaluate decisions about allocating scarce resources.
·         Financial Reporting is relevant to assessing performance, financial position, financing and investment.
·         Financial Reporting is relevant and reliable.
·         Financial Reporting facilitates comparability.
·         Financial Reporting is easily understandable.
·         Accounting standards should facilitate the Australian economy by reducing the cost of capital and enabling Australian entities to compete effectively overseas.

If you are looking to Outsource Financial Reporting in Australia, then visit our website cygnusaccountants.com.au or write an email us sales@cygnusaccountants.com.au

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