It's normal for entities to present financial statements for more than one year rather than for just

Question:

It's normal for entities to present financial statements for more than one year rather than for just the most recent year. Provide reasons why it's useful for stakeholders to receive more than one year's financial statements.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,...