Question

what do you understand by financial statement ?discuss the utility and significance of financial statement for the various parties interested in a business concern

Answer 1

Financial statement analysis is useful to different parties to obtain the required ... Concept And Meaning Of Financial Statement Analysis

plzzz make me brainliest

Answer 2

financial statement meaning 
Financial statements are a collection of reports about an organization's financial results, financial condition, and cash flows.
Financial statements includes 
1)balance sheet 
2)profit and loss a/c
3)cash flow statement 
4)statement of equity changes 
5) notes to account 

significance of financial statement 

1)To determine the ability of a business to generate cash, and the sources and uses of that cash.
2)To determine whether a business has the capability to pay back its debts.
3)To track financial results on a trend line to spot any looming profitability issues.
4)To derive financial ratios from the statements that can indicate the condition of the business.
5)To investigate the details of certain business transactions, as outlined in the disclosures that accompany the statements.

various parties interested in a business concern

1)shareholders
2)investors
3)employees
4)suppliers
5)government 
6)bankers
7)customers 
etc etc etc.


Hope its useful