Financial Statement in Organization: an Overview

EasyChair Preprint 7499

Abstract

Financial statements are considered as performance reports for a past financial period that provide the important information needed to clarify the success or failure of the company's management in achieving the goals. It also highlights the difficulties and problems faced by the company, but for the purposes of making rational decisions, we need sophisticated methods to seek better information that enables the measurement of sound financial and accounting performance. Among these methods are the Balanced Scorecard (BSC) as well as the benchmarking method. (BSC) consists of a set of financial measures that refer to the actions that have already taken place, as well as a set of operational measures that are indicators of future financial performance, which leads to measuring the strategic financial performance of institutions. Also, the use of benchmarking helps the organization’s management to learn the practices within the organization and learn from the best practices of competitors and thus make changes for the purpose of improvement and work in order for it to be the best by defining the goals that it should strive to achieve. Therefore, this research seeks to apply the latest methods to measure and evaluate financial and accounting performance Also, the use of the comparison method is the best.

Keyphrases: Performance, financial statement, organization

@booklet{EasyChair:7499,
  author    = {Kosrat Shivan},
  title     = {Financial Statement in Organization: an Overview},
  howpublished = {EasyChair Preprint 7499},
  year      = {EasyChair, 2022}}