EFFECT OF FINANCIAL ACCOUNTING REPORTING ON THE MANAGEMENT OF A BUSINESS

Effort is made to access the effect of formal accounting reporting on the management of a business financial accounting covers those activities related to the preparation of certain reports which are known as financial statements. These statement report the financial status of a firm at a particular time. The firms activities and resulting profit/losses during the most recent period and the flow of resources occurring within the firm during the same period. I draw my research from the work of many authors. Such work done have included textbooks in all forms, magazine and Encyclopedias. Apart from extensive use of literature, other method of research include (a) interview with businessmen. (b) Questionnaires have been designed and distributed to some businessmen (especially at trade fair). The questionnaires have been designed for officers in management cadre in public and private companies, shareholders, staff, partners and owners in sole proprietorship