What is a Report?
The word “report” is derived from the Latin word “Portare” which means “to carry”. So, “report” is a document which carries the information. Report is carrying the information in a written format for any event which was already happened.
Meaning of an Ideal Report
An Ideal Report means a report prepared under some rules and principles and serves the purposes of all parties interested in the business to the maximum possible extent.
Meaning & Definition of reporting
Reporting is a process of communicating the accounting facts and information relating to the business.
Definition of reporting
According to S.P.Gupta,
“Reporting may be defined as communicating the facts and data through reports and statements to the persons for whom such facts and data are complied and collected”.
Differences between reporting and communication
The differences between reporting and communication are presented below.
These are the top 10 differences between reporting and communication.