External Reporting

Banks, SEC, Investors, etc.

Standards like US GAAP and IFRS provide consistency in how companies report their results, making them comparable. Thanks to these standards, we know that a company’s revenues meet certain criteria, for example.

the standard financial statments for a company include the Income
Statement, Balance Sheets, Statement of Cash Flows, and Statement of Equity and Retained Earnings. The accompanying notes are also an important part of the financial statements.