1. If I wanted to learn to account, I would have majored in accounting. Finance is about how money works and making big deals. Accounting is about how those big deals get reported in financial statements and are not important in Finance.

You don't really need to understand financial statements because computers organize financial data for you anyway. So why bother? I don't wanna be no bean counter!

2. Financial analysts spend considerable effort to pick apart financial statements to draw conclusions about the prospects for various businesses. Understanding Financial statements is therefore very important in finance because if you know how they are put together, it is a lot easier to take them apart. In addition, financial statements are the way that businesses communicate with each other and with investors. If you don't know how to read them, then you aren't able to communicate in business.

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1Regrding the need f understnding finnil sttements ... View the full answer