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Importance Of Financial Statements

Importance of Financial Statements

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Title: Importance of Financial Statements

Essay Details:

Subject: Business

Author: Renee H

Date: November 21, 2011

Level: University

Grade: A

Length: 3 / 837

Essay text:

“Financial statements should be understandable, relevant, reliable, and comparable” (“Financial statements”, 2007, Purpose of financial statements, para.1). They are directed towards people who understand business and economic activities and accounting (“Financial statements”, 2007, Purpose of financial statements, para.2). “Owners and managers require financial statements to make important business decisions that affect its continued operations” (“Financial statements”, 2007, Purpose of financial statements, para.2). “These statements are also used as part of management's annual report to the stockholders” (“Financial statements”, 2007, Purpose of financial statements, para...

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