" Financial reporting for mutual fund". Because mutual fund is the fund which is set up under trust. So, all the company who work for management of mutual fund, it is necessary to maintain the accounts of investors and to show financial reports for better control on mutual funds.
In simple words, suppose, I invested in one unit of mutual fund. Now it is the duty of mutual fund trust to tell me what total amount of mutual fund, it has invested?, what is it earned in the form of dividend, interest and capital gain? What amount will it give to us in the form of earning? What is the net asset value of this mutual fund? What do balance sheet and revenue account explain about the financial position and performance? All these questions' answer, we will get from financial reporting of Mutual Fund.
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