Financial Reporting Requirements


A company’s financial statements provide various financial information that investors and creditors use to evaluate a company’s financial performance. This concept offers an overview of financial reporting standards in the UK.

Technique Overview

Financial Reporting Requirements

Financial Reporting Requirements Definition

There are two types of financial reporting requirements: legal and regulatory. These relate to the provisions of legislation and those regulations produced by standard-setters (Lee, 2007). Financial reporting requires keeping accounting records, producing financial statements, Board and Shareholder approvals, and audits.

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Business Evidence

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Business Application

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Further Reading

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Financial Reporting Requirements References (4 of up to 20) *

  • ASB, 2011. The future of UK GAAP. Available at: (www.frc.org.uk/asb/technical/projects/project0072.html) [Accessed on 19 December 2011].
  • Barth, M.E. and Landsman, W.R. (2010) How did financial reporting contribute to the financial crisis? European Accounting Review, 19(3), pp.399-423.
  • Booth, B. (2011) Biotech executive's pay premium vs tech: More cash, less equity. Forbes, Jul 5. Available at: (www.forbes.com/sites/brucebooth/2011/07/05/biotech-executives-pay-premium-vs-tech-more-cash-less-equity/) [Accessed on 19 December 2011].
  • Calder, A. (2008.) Corporate governance: a practical guide to the legal frameworks and international codes of practice. Kogan Page Publishers.

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