financial reporting 101, understanding financial reporting basics and fundamentals. financial reporting is a vital part of corporate governance. in this lesson, you'll learn what financial reporting is, its primary components, its purpose, and be provided with some examples. financial reporting defined: financial reporting involves the disclosure of financial information to management and the public (if the company is publicly traded) about how the company is performing over a specific period of time. financial reports are usually issued on a quarterly and annual basis. this is different from management reporting, which is financial information that is disclosed to those inside the company to be used to make decisions within the company. Financial reports are included in a public company's annual report. financial reporting serves two primary purposes. first, it helps management to engage in effective decision-making concerning the company's objectives and overall strategies. the data disclosed in the reports can help management discern the strengths and weaknesses of the company, as well as its overall financial health. second, financial reporting provides vital information about the financial health and activities of the company to its stakeholders including its shareholders, potential investors, consumers, and government regulators. It's a means of ensuring that the company is being run appropriately. You should note that if a company is publicly traded, it is subject to some very strict reporting regulations enforced by the securities and exchange commission (SEC). in this video tutorial, online course, and online class you will learn the main financial reporting basics and fundamentals. teach yourself MBA basics by getting our - TEN - complete business books bundle | your all-in-one business, marketing, accounting, finance, and entrepreneurship fundamentals blueprint guides | download your copy now! | https://gumroad.com/l/complete-business-bundle MINI all-in-one business foundations ebook guide for just 10$, download your free sample now! | https://leanpub.com/complete-business-foundations-guide level-up your skills with courses, certificates, and degrees online from world-class universities and companies - join now! (affiliate links). learn anything, on your schedule | https://bit.ly/udemy-online-classes (udemy courses) unlimited access to 3,000+ courses | https://bit.ly/coursera-online-classes (coursera plus) excel skills for business: essentials | https://bit.ly/excelskillsforbusinessessentials excel skills for business: intermediate I | https://bit.ly/excelskillsforbusinessintermediateI get your online MBA degree. master of business administration, university of Illinois. a deeply engaging online MBA from a public university powerhouse. start your application or request more info. http://bit.ly/imba-degree