1.13 Podgorny & Weaver Limited is involved in the wholesale of fashion goods to retailers. The company directors have a monthly meeting to discuss strategy and to make decisions. The directors are presented with the following reports prepared by the company accountant each month:

●● list of amounts owed by the retail businesses which the company supplies

●● summary of the value of fashion goods items currently held in inventory

●● summary of the orders received during the month

●● statement of profit or loss for the last month.

Explain how the directors would be able to make use of each of the reports listed in order to improve the management of the company.