financial statements are important for any business wishing to keep its accounts up-to-date and ready for review and analysis. The financial statement review is a service under which the accountant obtains limited assurance that there are no material alterations that need to be made to an entitys financial statements for them to be consistent with the applicable financial reporting outline. The management takes responsibility for the preparation and presentation of the financial statements. For this task, imagine you are an accountant who needs to prepare financial statements for a company, to be reviewed by management and investors. Build a plan outlining the requirements of preparing financial statements and the relevant data that is needed for the purpose. Write in detail which statements are responsible for providing which information. Your answer should not exceed 1000 words. In addition, your submission should include the following: The importance of financial statements. An explication of each type of financial statement and its use in business, and an examination of why different types of statements exist for different business activities. The information that is relevant for management. The information and data relevant for investors and creditors