Context

There is a saying that ascertaining financial performance using financial report is an art. There is often

many complexities of financial report and that problem is further challenged by its relationship to quality

of financial report. The process of financial discussions should incorporate critical areas that is deemed to

have significant impact on decision making process.

The ability to compare firms from different industries or sizes require sound understanding of the firm.

That is quite often very difficult to ascertain due to uncertain market environment that is often lacking in

stability or due to market dynamic and changes.

Questions

Most financial report are made available on quarterly or yearly basis. These information

available by relying on past data and quite often an unreliable indicator of what the future

may ensue especially in present market situation that is filled with unforeseeable disruption.

In Details, provide sound understanding as to how users of financial information can

make reliable forecast with sound certainty level. Hint: No hint, this is a million-dollar

question.