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Business strategy
Importance of financial transparency in business management.
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[QUOTE="Suba, post: 344006, member: 3658"] Financial transparency is not only about the inflow and outflow of cash but discusses the overall/comprehensive financial condition and position which contains the balance sheet, income statement, cash flow statement and changes in capital statement or retained statement, which are presented accurately, clearly, relevantly, reliability and punctuality. So financial transparency must also be disclosed openly, both to internal and external parties. Meanwhile, for the benefit of external parties, the financial statement must have been audited by a public accountant, so that it will be disclosed and there will be footnotes such as changes to accounting principles, for example changing depreciation methods or inventory. [/QUOTE]
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