Financial disclosure refers to the process of providing clear and accurate information about an individual's or organization's financial status. This includes details about income, expenses, assets, and liabilities. Financial disclosures are often required by law for public companies, ensuring transparency for investors and stakeholders. In personal finance, individuals may also engage in financial disclosure when applying for loans or mortgages. Lenders require this information to assess creditworthiness and determine the ability to repay borrowed funds. Overall, financial disclosure promotes trust and accountability in both personal and corporate finance.