Ch 7: Overview of Financial Reporting & Analysis

About This Chapter

Get an overview of financial reporting and analysis with this self-paced study resource. The chapter's lessons and quizzes offer you a quick and efficient way to prepare for an upcoming exam, complete an assignment and increase your overall financial reporting and analysis knowledge.

Overview of Financial Reporting & Analysis - Chapter Summary

Follow along with our expert instructors to review the basics of financial reporting and analysis. This chapter contains short and simple lessons that examine financial reporting, statement and ratio analysis concepts. You'll also take a look at financial reporting standards, standards for comparison and issues regarding the analysis of financial statements. By the end of the chapter, you should be equipped to:

  • Understand the purpose of financial reporting and statement analysis
  • Recognize International Financial Reporting Standards (IFRS)
  • Differentiate between IFRS and GAAP
  • Outline the financial statement analysis standards for comparison
  • Define financial ratio analysis
  • Explain several issues concerning financial statement analysis

You can work through the chapter at your own pace using any computer or mobile device. These lessons use a simplified instructional style, and they highlight the most important financial reporting and analysis terms. Be sure to take the accompanying self-assessment quizzes to reinforce your understanding of the material. Our instructors are available to answer your questions, and you can access the chapter material at any time of day or night.

7 Lessons in Chapter 7: Overview of Financial Reporting & Analysis
Test your knowledge with a 30-question chapter practice test
What Is Financial Reporting? - Purpose, Statement Examples & Analysis

1. What Is Financial Reporting? - Purpose, Statement Examples & Analysis

Financial reporting is a vital part of corporate governance. In this lesson, you'll learn what financial reporting is, its primary components, its purpose, and be provided with some examples. A short quiz follows the lesson.

International Financial Reporting Standards (IFRS)

2. International Financial Reporting Standards (IFRS)

The International Financial Reporting Standards (IFRS) provide guidance for preparing financial statements globally. This lesson will define the IFRS, outline its goals and objectives, and discuss the advantages and disadvantages of a single set of global accounting standards.

Differences Between GAAP & IFRS

3. Differences Between GAAP & IFRS

We live in an interconnected world, and doing business globally has become nearly commonplace. This impacts financial reporting and accounting standards. In this lesson, we'll cover differences between the US and International standards.

Standards for Comparison in Financial Statement Analysis

4. Standards for Comparison in Financial Statement Analysis

In this lesson, you'll understand the purpose of comparing ratio data. We'll discuss four standards in comparing ratios; you'll learn about ratios in each category and where to find the data.

Defining and Applying Financial Ratio Analysis

5. Defining and Applying Financial Ratio Analysis

In this lesson, we'll define financial ratios. You'll learn the three main categories of financial ratios, and we'll show an example of each. We'll also discuss an analysis of each example.

Financial Statement Analysis: Definition, Purpose, Elements & Examples

6. Financial Statement Analysis: Definition, Purpose, Elements & Examples

In this lesson, we'll define financial statement analysis and discuss the main categories. You'll also learn how to calculate a financial ratio in each category and analyze the results.

Issues with Financial Statement Analysis

7. Issues with Financial Statement Analysis

In this lesson, we'll define financial statement ratios. You'll also learn some of the issues in analyzing financial statement ratios, as well as suggestions on how to make sure you're comparing apples to apples.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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