HCAD 640 UMDC Importance of Fair and Accurate Financial Reporting in The Healthcare Industry Discussion

Peer 1: Accurate and well-organized financial statements can help a business run more efficiently and effectively. Financial reporting provides a level of insight that assists businesses in remaining compliant while streamlining their income or expenditure-focused initiatives across the board. According to Calzon (2022) research, leveraging information to construct more proficient marketing reports and make more informed decisions can increase marketing productivity by 15 to 20%, amounting to up to $200 billion calculated on the basis of annual global marketing spend of $1 trillion per year.