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Chapter 7 Financial Reporting

By Department of Defense

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Book Id: WPLBN0000002169
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005
Full Text

Title: Chapter 7 Financial Reporting  
Author: Department of Defense
Language: English
Subject: Military, Armed Forces., National defense.
Collections: Military and Armed Forces Library Collection
Publication Date:
Publisher: Department of Defense


APA MLA Chicago

Defense, D. O. (n.d.). Chapter 7 Financial Reporting. Retrieved from

Government Reference Publication

Excerpt: 0701 GENERAL Financial statements are a key feature in financial reporting. They are a principal means of communicating accounting information to those outside an activity. Although financial statements may also contain information from sources other than accounting records, accounting systems are generally organized on the basis of the elements of financial statements (assets, liabilities, revenues, expenses, etc.) and provide the bulk of the information for financial statements. Financial reporting is not an end in itself but is intended to provide information that is useful in making business and economic decisions-for making reasoned choices among alternative uses of scarce resources in the conduct of business and economic activities.

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