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Group Vlog | Script Jiselle: ((vid)) Companies must provide for true and fair

financial statements. ((rec)) Accurate and complete


ALL: GOOD DAY! financial records must be made available for financial
audits and they will contribute to the management of
Lab: We are the marketing management students from
an organization’s taxation obligations. (12 secs.)
Our Lady of Fatima University-Antipolo Campus. (vid)
Shane: ((vid)) Under corporations legislation.. ((rec))
I am….. (name)
there are a number of statutory requirements that
Shane: .... and we're going to discuss about financial apply to financial reports whether the organization is
reporting and how it must conform to organizational trading on the domestic or international front. (10 secs.)
and statutory requirements. (vid)
Lab: ((vid)) The main requirements are that.. ((rec)) all
companies must keep appropriate financial records that
record and explain all financial transactions. These can
((record)) Jiselle: As years go by, many businesses are be used to report on financial performance and position
now arising in different parts of the world and in order and provide for true and fair financial statements. (15
to be competitive in the market, the business must deal secs.)
with accounting matters properly such as financing,
capital structure, business activities and financial
reporting, and analysis to help maximize returns and
((vid)) RM: Financial report should contain:
shareholder value. (25 secs.)
• clear statement of purpose
((record)) Lab: One of the ways for a company to do it
effectively is to ensure that reports conform to • methods of data collection and sources
organizational and statutory requirements. (10 secs.)
• problems, solution, and some relevant informations
relating to financial matters
RM: First, WHAT IS FINANCIAL REPORTING? ((vid))

((record)) Financial reporting is the communication of OUTRO!!


the organization's significant financial data and other
activities to different stakeholders to help them at any ((record)) Jiselle: Moreover and most importantly,
stage in time get the concept of the organization's real financial reporting helps management to engage in
economic situation. (15 secs.) effective decision-making concerning the company's
objectives and overall strategies. (14 secs.)

((record)) RM: And that is why, it is very important that


((vid)) RM: There are 3 main objective of financial the information contained in reports must be clear and
reporting: the structure and format of the report must conform to
organizational and statutory requirements. (14 secs.)
((vid)) Jiselle: 1st, it provides investors, creditors,
bankers, public, regulatory authorities and government
with economic data about the company.

((vid)) Shane: 2nd, it helps customers keep informed


about the firm's status, thereby building levels of trust.

((vid)) Lab:3rd, it provides data on how the business


uses different resources at its disposal.

((vid)) RM: The financial report outlines how much


money that the organization has made and how much
money it has spent.

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