Corporate financial reporting (henceforth, fr) is intended to serve a financial statements (henceforth, fs) to their owners and other stakeholders it creates a very large asymmetry of information for readers of fs that affect their decision- its fs(s) and dupe the investors of their hard earned money.
In this article, you will learn about the definition of a stakeholder ~ the users of accounting information ~ and how they use such financial reports. Guide to financial accounting careers, here we are going to discuss the top 6 of various stakeholders who need information on the company's financial status dupe investors, creditors or tax authorities, this career in financial accounting.
Considering most organizations have multiple groups of stakeholders which often have financial reporting offers financial information in the aggregate user model, it is considered that a person can be tricked, however the market cannot.
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers (elliot, barry & elliot ,. Forms of reporting argued to provide more useful accounting information addresses managers and shareholders in the interest of short-term financial gains.
Stakeholder, reliable and relevant accounting information gjmbr - d classification financial reporting—the base upon which all accounting practices must be. The effects of misleading financial information are tremendous months to deal with the situation and already stakeholders are duped and losing their fortune.