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- Title
Financial Reporting's Eternal Quest: What Do Users Want/Need?
- Authors
Sinnett, William M.; Laing, Roland L.
- Abstract
The article discusses research produced by the Financial Executives Research Foundation (FERF) that has explored what users of accounting information need from financial reports. A FERF report published in the late 1940s found widespread public distrust of financial statements. In 1948 a FERF study concluded shareholders generally found financial data complex and hard to understand. SRI International reached a similar conclusion in a 1987 FERF paper. A 2006 FERF study that examined what consumers of financial statements wanted revealed that while bankers sought reports that complied with generally accepted accounting principles, business owners mainly wanted financial statements they could understand.
- Subjects
FINANCIAL Executives Research Foundation; ACCOUNTING; FINANCIAL statements; BUSINESS records; CORPORATION reports; SRI International
- Publication
Financial Executive, 2009, Vol 25, Issue 10, p38
- ISSN
0895-4186
- Publication type
Article