CH 1 Financial Reporting and Accounting Standards教程.pptVIP

Slide 1-* C H A P T E R 1 FINANCIAL REPORTING AND ACCOUNTING STANDARDS Lecture by Kyong Soo Choi Definition of Financial Reporting What Is Financial Reporting? Financial reporting is: the identification, measurement, and communication of financial information about economic entities to interested parties. Financial Statements Financial Reporting Financial Statements and Financial Reporting Financial reporting is a broader concept: financial statements is one of the means of financial reporting. Ex) MDA, Management forecasts Objective of Financial Reporting Objective: Provide financia