Financial reporting refers to:

A) The application of analytical tools to general-purpose financial statements.
B) The communication of financial information useful for decision making.
C) General-purpose financial statements only.
D) Ratio analysis only.
E) Profitability.

Financial Reporting

The process of disclosing financial information and statements by a company to its stakeholders and the public, showcasing its financial performance and position.

General-purpose Financial Statements

These are standardized financial reports that provide an overarching view of a business’s financial condition to stakeholders, including income statements, balance sheets, and statements of cash flows.

Analytical Tools

Instruments or strategies used to analyze and interpret various types of data.