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What is the definition of Financial Modeling or Reporting?
Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. These stakeholders include – investors, creditors, public, debt providers, governments & government agencies. In case of listed companies the frequency of financial reporting is quarterly & annual.Financial Reporting is usually considered as end product of Accounting. The typical components of financial reporting are:
The financial statements – Balance Sheet, Profit & loss account, Cash flow statement& Statement of changes in stock holder’s equity
The notes to financial statements
Quarterly & Annual reports (in case of listed companies)
Prospectus (In case of companies going for IPOs)
Management Discussion & Analysis (In case of public companies)
