Financial Reporting

There are two key points to remember when discussing the objective of financial reporting:
1. Financial reporting is intended to provide information in making various types of business decisions, e.g. investment, credit, resource allocation, management performance.

2. The objectives of financial reporting are affected by the economic, legal, political and social environments.
Financial reporting has been moving away from measuring certain assets and liabilities at historical cost and more toward fair value.  Fair value accounting in financial reporting makes financial information more relevant to the ultimate user, be it management, the stakeholders or creditors.

Our business valuation specialists can work with you to determine fair value measurements for business combinations, goodwill, impairment/disposal of long-lived assets and fair value measurements.  

To learn more about our Business Valuation services, contact David A. Storer, CPA/ABV, CVA, Partner or Elizabeth B. Grubb, CPA/ABV/CVA/CFP, Partner.