Abstract
Journal of Business & Technology (JBT) is an open-access journal published by the Department of the Commerce and Financial Management of the University of Kelaniya, Sri Lanka. The journal follows a double-blind peer-review process and is published bi-annually (January, July). JBT aims to publish scholarly research, critical reviews, case studies, practitioner reviews and technology reviews in the fields of business and technology.
Highlights
Financial reporting is one of the main processes in an organization that provides valuable information about the company's strategies, past events, and current status to the users of financial statements
According to Jonas and Blanchet (2000), Financial reporting is a process that depends on the quality of each part, such as information and disclosures related to the company's transactions, judgments made by management and the information about selection and application of accounting policies
This study mainly focuses on measuring the financial performance of the firms using Return on Assets (ROA) Return on Equity (ROE), and Market to Book ratio (MTB)
Summary
Financial reporting is one of the main processes in an organization that provides valuable information about the company's strategies, past events, and current status to the users of financial statements. According to Jonas and Blanchet (2000), Financial reporting is a process that depends on the quality of each part, such as information and disclosures related to the company's transactions, judgments made by management and the information about selection and application of accounting policies. By using such information, decision-makers decide whether to invest or not in a particular firm. Relevance of the financial information is capable of making a difference in decisions made by the users. To be helpful, financial information must represent relevant phenomena, but it must faithfully represent the phenomena that it purports to represent
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