Explore BrainMass
Share

Explore BrainMass

    Comprehensive Annual Financial Report 's Purpose

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What is the purpose of the Comprehensive Annual Financial Report (CAFR)? Why is financial reporting important?

    © BrainMass Inc. brainmass.com October 10, 2019, 4:47 am ad1c9bdddf
    https://brainmass.com/business/the-role-of-government-and-regulation/comprehensive-annual-financial-report-s-purpose-476797

    Solution Preview

    The main purpose of the CAFR is to provide stakeholders about the financial condition of the State. It is a comprehensive reporting of the state's activities, revenues and expenditures and balances for the financial year. CAFR provides a comprehensive overview of the state's financial position as well as economic and statistical data. This helps stakeholders, ...

    Solution Summary

    What is the purpose of the Comprehensive Annual Financial Report (CAFR)? Why is financial reporting important?

    $2.19