IDEAS home Printed from https://ideas.repec.org/a/ibn/ijbmjn/v17y2023i8p1.html
   My bibliography  Save this article

Back to the Basics: Financial Statement Disclosures & Reporting Requirements

Author

Listed:
  • Melissa Aldredge
  • Sarah DuBois

Abstract

To protect stakeholders relying on published financial statements, accounting practices, measurement techniques, disclosures and footnote requirements have been developed over the years by the Financial Accounting Standards Board (FASB) and generally accepted accounting principles (GAAP). As indicated by Saidu and Dauda (2014), the move towards adopting high quality standards was spurred by the numerous financial scandals experienced worldwide in the late 1990s. The United States government has and continues to regulate the standard-setting process and financial reporting environment of publicly traded companies to ensure investors have all relevant information to evaluate a company’s financial position and make informed decisions. This paper provides a description of the disclosure techniques available in published financial statements, and analyzes the types of financial reporting requirements promulgated by the AICPA Code of Professional Ethics and the federal securities laws of the U.S. Securities and Exchange Commission (SEC), including the Securities Act of 1933, the Securities Exchange Act of 1934, the Foreign Corrupt Practices Act of 1977, and the Sarbanes-Oxley Act of 2002.

Suggested Citation

  • Melissa Aldredge & Sarah DuBois, 2023. "Back to the Basics: Financial Statement Disclosures & Reporting Requirements," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(8), pages 1-1, February.
    • Handle: RePEc:ibn:ijbmjn:v:17:y:2023:i:8:p:1
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/ijbm/article/download/0/0/47451/50873
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/ijbm/article/view/0/47451
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Keith Houghton & Christine Jubb, 2003. "Market Competition and Auditor Independence," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 10(3), pages 213-228.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ismajli Hysen & Perjuci Edona & Prenaj Vlora & Braha Medina, 2019. "The Importance of External Audit in Detecting Abnormalities and Fraud in the Financial Statements of Public Enterprises in Kosovo," Ekonomika (Economics), Sciendo, vol. 98(1), pages 124-134, June.
    2. Loganathan Krishnan Author_Email: loganathan@utar.edu.my, 2011. "Legal Issues On The Scandals Involving Auditors," 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding 2011-255, Conference Master Resources.
    3. Jeff Everett & Constance Friesen & Dean Neu & Abu Shiraz Rahaman, 2018. "We Have Never Been Secular: Religious Identities, Duties, and Ethics in Audit Practice," Journal of Business Ethics, Springer, vol. 153(4), pages 1121-1142, December.
    4. Hysen ISMAJLI & Edona PERJUCI & Medina BRAHA & Vlora PRENAJ, 2019. "The Importance of External Audit in Detecting Abnormalities and Fraud in the Financial Statements of Public Enterprises in Kosovo," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 5-11.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijbmjn:v:17:y:2023:i:8:p:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.