QUESTION 2 The objective financial statements is to provide information to the users of these statements about an entity's assets, liabilities, equity, income and expenses that is useful to the users of the financial statements. Requirement: Discuss briefly the information that is produced by each of the following financial statements and how that information may be useful to investors in the entity (both lenders and shareholders) (1) (ii) The Statement of Profit or Loss and Other Comprehensive Income The Statement of Changes in Equity The statement of Financial position The Statement of Cash Flows (20 marks) (iv) (b) Non-current tangible assets are normally depreciated over their useful lives. Requirement: Briefly describe your understanding of depreciation and explain two ways of calculating it. Give numerical examples to illustrate your answer. (10 marks) Total Question 2: (30 marks) Page 4 of 7