Question

What domestic organiztions have public financial records?

What global organizations has public financial records?

Answer 1

Public financial records refers to those financial records that are being made available to the public for their understanding. For private companies, it is not a mandatory thing to show their financial reports to the public. Private companies don’t sell stock to the general public, so they don’t have to report their finances to the government (except for filing their tax returns, of course) or answer to the public. No matter how big or small these companies are, they can operate behind closed doors. A private company gives owners the freedom to make choices for the firm without having to worry about outside investors’ opinions. Of course, to maintain that freedom, the company must be able to raise the funds necessary for the business to grow.

Neither domestic organizations nor global organizations, which are owned by private hands have to release their financial reports publicly, instead, they need to share it with only their shareholders and only with the most interested stakeholders. Those companies, categorized as public companies, in which the public are interested at need to have public financial records. They have to release the reports in their website mandatorily after the general meeting has been conducted and the financials are adopted by the shareholders.

Hence, if the companies are public companies, both domestic and global, they have to publicaly release the financial reports; be it domestic company or global company.