A special report is a customized financial reporting document that deviates from the standard format of Generally Accepted Accounting Principles (GAAP). Special reports are designed to meet unique information needs while maintaining professional standards and clarity. For example, a nonprofit may create a special report for a major donor showing how their $5 million grant was used across different programs including detailed cost allocations and outcome measurements that are not normally included in financial statements. Another common type of special report is a compliance report prepared to comply with contractual or regulatory requirements such as when an entity uses cash basis accounting.
In the context of research, a special report is a summary of research findings and results based on systematic investigations. These documents are designed to present first-hand verifiable information in a clearly structured format and include relevant headings and sections along with tables, graphs, and visual representations. Additionally, they typically contain a literature review that analyzes existing knowledge on the subject being investigated and how the current research contributes to the field.
In journalism, a special report is an in-depth exploration of a particular subject matter. These articles are often used to investigate alleged wrongdoing or corruption and can be an effective tool for journalists seeking to establish their credibility with audiences. Alternatively, a special report may be a detailed discussion of an emerging issue in which the journalist seeks to educate the public on complex topics such as bioethics.
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