Question

Evaluate the need for and relevance of financial reporting within the public sector

Answer 1

Financial reporting refers to well documented financial results of an organization which are made available to the organization's stakeholders and to the public.

Relevance of Financial reporting

The relevance of Financial reporting cannot be over emphasized.

Financial reporting provides answers a myriad of vital questions on all aspects of your company's financial activities.

It gives both internal and external stakeholders an accurate and comprehensive breakdown of the strategic steps taken by the organisation as well as other procedural and operational metrics they require in other to make decisions and take informed action.

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