Explain why users require all the information contained in Figure 7.1 of Chapter 7 and not merely the primary financial statements with notes to the accounts.

Figure 7.1

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Primary financial statements Examples Information useful for economic decisions prepared by the company (may include information on website) Income statement Statement of other comprehensive income Statement of General purpose financial reports General purpose financial statements Annual reports Notes to the financial statements Examples Accounting policies Detailed analysis of amounts in the financial statements Narrative reports Examples Strategic report Chairman's statement Chief executive's overview Business model Other general purpose financial reports Examples Half-yearly reports Quarterly management reports Prospectus for new issue of Other public information Presentations to analysts Press releases about the entity Environmental, Health and Safety