Degree of compliance with IFRS:12 CONCLUSION 12 REFERENCE14 INTRODUCTION Globally, different kind and sort of business bears corporates reports its consolidated and merged accountstoshareholders.Whilepreparing consolidated annual accounts various kind of methods, assumptions, policies etc. The study report discuss about the motive of financial reporting, its frameworks used to enhance reliability of data and explanation to what extent financial information isbeneficialfor stakeholders. Following points explains about key purposes related to financial reporting, as follows: