Financial transparency revolutionizes reporting, enhances completeness, and ensures fair disclosure.
The article discusses the importance of clear financial statements, especially during times of crisis. It emphasizes the need for transparency in reporting business activities and changes in assets, particularly property, plant, and equipment. By providing detailed information in the notes to financial statements, companies can improve the completeness of their financial reports and ensure accurate and fair reporting. This additional insight helps stakeholders understand the accounting policies used and meet the informational requirements of the International Accounting Standards.