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Financial Reports (How do you create useful information? (Know your…
Financial Reports
How do you create useful information?
Know your audience
What are their information needs?
What decisions are they making?
How do they consume data?
Analysis (creating value)
use good tools
eliminate clutter
accuracy/timeliness
Communication
Data visualization
Context
Reporting
Inputs (data sources)
Quality
Broad range of sources
What is your role?
Transform data into useful information
create understanding
reduce uncertainty
Provide financial intelligence
What is useful information?
FASB definition
Traditional financial reports (historical only)