Description
- Why are financial statements important to internal users, such as employees, managers, and directors?
250 words with APA reference please
Explanation & Answer
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Importance of financial statements
A Financial statement or report is a record showing the financial activities as well as the
business position at a particular point in time. It helps bring together relevant financial
information and presents it in a structured way which is easy to understand. Financial statements
contain basic financial details accompanied by analysis. According to Jay Way 2016, the
financial statements of a company provide important financial information to managers, directors
and employees which they use to evaluate the financial perfo...