Advange of financial statements
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how many advantages you want
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1) Financial statements record all the financial data of the business when evaluated and critically analyzed becomes more useful to various stakeholders
2) Preparation of financial statement places a high emphasis on accuracy, reliability, relevance of financial data
3) Balance sheet provides a summary of the position of the business at a particular data while the income shows the incomes and expenses incurred during the period
4) Cash flow statement shows shows the movement of cash in the business
5) By using these statements, stakeholders could understand assesses the entity’s financial performance and positions the especially clearly knows each element such as revenues, expenses, assets, liabilities and equity
This is the answer. Hope this helps you
2) Preparation of financial statement places a high emphasis on accuracy, reliability, relevance of financial data
3) Balance sheet provides a summary of the position of the business at a particular data while the income shows the incomes and expenses incurred during the period
4) Cash flow statement shows shows the movement of cash in the business
5) By using these statements, stakeholders could understand assesses the entity’s financial performance and positions the especially clearly knows each element such as revenues, expenses, assets, liabilities and equity
This is the answer. Hope this helps you
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