The objective of financial statements is to provide information about the reporting entity's financial performance and financial

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The objective of financial statements is to provide information about the reporting entity's financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity's management and for making economic decisions (Statement of Principles for Financial Reporting).
Required
a. State five potential users of company published financial statements, briefly explaining for each one their likely information needs from those statements.
b. Briefly discuss whether you think that UK company published financial statements achieve the objective stated above, giving your reasons. Include in your answer two ways in which you think the quality of the information disclosed in financial statements could be improved.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Introduction To Financial Accounting

ISBN: 978-0077138448

7th edition

Authors: Anne Marie Ward, Andrew Thomas

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