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Explain the purpose of preparing financial statements for non-reporting entities in Australia. You must address: Financial transparency Stakeholder communication Compliance with regulatory requirements Assessing creditworthiness

Explain the purpose of preparing financial statements for non-reporting entities in Australia. You must address:

Financial transparency
Stakeholder communication
Compliance with regulatory requirements
Assessing creditworthiness
Decision-making and planning
Benchmarking and performance evaluation
Historical recordkeeping

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