Financial Standards

Financial standards are guidelines and rules that help organizations prepare and present their financial information in a consistent and transparent manner. They ensure that financial statements, like balance sheets and income statements, are accurate and comparable, aiding investors, regulators, and stakeholders in making informed decisions. These standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), help maintain trust in financial reporting by providing a common framework that companies must follow, which ultimately promotes accountability and efficiency in the financial markets.