The primary task of financial reporting is to inform and present financial data to interested users as a result of the entire accounting process. Accounting information data should always be in the function of creating appropriate and understandable information for different users.

 "Financial statements are the main carriers of accounting information and the final result of the accounting processing of data on the company's business events."

The basics of financial statements are: balance sheet, income statement, statement of changes in equity, statement of cash flows and notes to the financial statements.

According to HSFI

“Financial statements should present the financial position, financial performance and cash flows of the entity fairly and truthfully. Fair presentation requires the accurate presentation of the effects of transactions and other events, in accordance with the criteria for recognizing assets, liabilities, equity, income and expenses. ”