Financial Reporting: Important Definitions

Financial Reporting: The act of providing statutorily mandated financial information to the investing public; different countries have different requirements and standards.

Financial Statements Refer to a company’s: income statement, balance sheet, statement of cash flows, and/or statement of changes in owner’s equity.

Long-term Assets: Include long lived assets and long-term investments, both of which are reported on the balance sheet.

Long-lived Assets: Refer to fixed assets (property, plant, and equipment - PPE), natural resources, and intangible assets (such as patents or goodwill) carried on the balance sheet.  Note that this sheet primarily discusses long-lived assets as PPE, but there is some discussion of intangible assets.

Inflation: The scenario where an economy or business environment is experiencing rising prices.

Deflation: The scenario where an economy of business environment is experiencing falling prices.

Learn the skills required to excel in data science and data analytics covering R, Python, machine learning, and AI.

Free Guides - Getting Started with R and Python

Enter your name and email address below and we will email you the guides for R programming and Python.

Saylient AI Logo

Take the Next Step in Your Data Career

Join our membership for lifetime unlimited access to all our data analytics and data science learning content and resources.