FINANCIAL REPORT Definition

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FINANCIAL REPORT could contain financial statements, annual report, SEC Form 10-K, and/or prospectus among other documents, i.e. there is no set format.

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DISCLOSURE PRINCIPLE states that any and all information that affects the full understanding of a companys financial statements must be include with the financial statements. Some items may not affect the ledger accounts directly. These would be included in the form of accompanying notes. Examples of such items are outstanding lawsuits, tax disputes, and company takeovers.

CARTAGE/CARRIAGE OUTWARDS Occurs when a business pays for sold goods to be delivered to its customers premises.

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