What is the primary objective of financial reporting?

Question

Quizplus · Accepted Answer

The primary objective of financial reporting is to provide useful information for decision making. While financial reporting may also assist investors and management in credit decisions and cash flow assessment, the primary goal is to provide information that is useful for decision making. Additionally, financial reporting is designed to provide accurate and reliable information that protects users from fraudulent information.

What Is the Primary Objective of Financial Reporting