Atrill and McLaney (2008), Elliott and Elliott (2012) consider that the financial report consists of written documents that provide sure information about the company. Such as the financial situation, avocation performance, cash movement and development prospects. The company publishes their financial coverage seasonally, biannually or annually. As a part of business enterprise analysis, the financial describe provides the public with a companys business information. When it comes to stakeholders of companies, they are who have the interest in the company, and pass on affected by the companys decisions and activities. In addition, they are the main users of financial reportage and they will ask for varied information from financial reporting since they are in divergent positions and have different aims. Consequently, face to various kinds of stakeholders, financial reporting seems extremely difficult to pay all of their requirements.
The purpose of this act is to analyze whether the one-size-fits-all approach of financial reporting suitable to satisfy the varying information needs of the different stakeholders. The essay includes triosome parts.
The first part is to give the definition and general founding of financial reporting, while the definition of stakeholders and their requirements will be mentioned in the second part. The last part is to give reasons to demonstrate how stakeholders commode obtain information about companies through the financial reporting and whether it is the same important to every stakeholder.
2. Literature Review
Financial reporting is not an independent report. It includes many averments and contents. Atrill and McLaney (2011), Ferries, Haskins, and Selling (1996) state three major statements are consisted of financial reporting. They are the balance statement, the income statement (also called the profit and loss statement) and the cash flow statement. While Clark, Cathey and Schroede (2009:578)...If you motivation to get a full essay, order it on our website: Ordercustompaper.com
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