News in Financial Measures

This chapter explores recent innovations in financial reporting with a focus on global practices, regulations, and technological advancements. The first paragraph titled “Financial Reporting: History and Structure” begins by reviewing the history and structure of financial reporting, including key regulations that govern financial statements worldwide. It contrasts IFRS and non-IFRS financial statements, providing an example of how these standards differ for example in Italy. The second section traces the history of accounting standards, comparing IFRS, US GAAP, and local standards across different countries, also considering emerging economies. In the last 2 paragraphs the authors show the role of AI in financial reporting and the main innovations in financial reporting. AI is playing an increasing role in automating financial reporting, enabling real-time data analysis, and improving accuracy and efficiency. In terms of innovation in Financial Reporting, new technologies and metrics transforming financial reporting, include ESEF electronic reporting for streamlined disclosures, predictive analytics for forecasting and decision-making, dynamic dashboards for real-time performance tracking, blockchain technology, enhancing transparency and security. At the end of this chapter, a case study is provided of a company that successfully integrates all these tools, demonstrating how innovation can optimize financial reporting.