Reporting, or announcing, refers to the process of preparing and presenting financial information in various reports to stakeholders, such as investors, creditors, regulators, and internal management. Financial reporting typically involves the preparation of financial statements, including the income statement, balance sheet, and cash flow statement, as well as other supplementary reports and disclosures. The purpose of financial reporting is to communicate the financial performance, position, and cash flows of a business to external and internal users for decision-making and accountability purposes.