FINANCIAL REPORTING AS INFORMATION SUPPORT FOR MONITORING THE FINANCIAL STATE OF THE ENTERPRISE

Анотація

Financial reporting is a mandatory component of the reporting of any modern enterprise, and its formation is a certain logical conclusion of accounting. It is established that “the main requirement for the information presented in the statements is that it should be informative for users, that is, that the information contained in the financial statements can be used to make informed decisions. The main criteria that information must meet are: relevance, comparability, reliability, comprehensibility, truthfulness, neutrality” [2]. It has been proven that the formation of financial statements based on accounting data is carried out to meet the information needs of users. The main indicators of financial reporting are compiled in accordance with the norms of NP(S)BO 1 “General requirements for financial reporting” [2]. It was concluded that the domestic reporting practice provides for the formation of financial statements both according to national provisions (standards) of accounting and according to international standards of financial statements. The main forms of financial reporting, which are the information support for the analysis of the financial state of the enterprise, are recognized as the Balance Sheet (Report on the financial state) and the Report on the financial results.

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