Financial accounting information plays a key role in the business landscape.

Financial statements are part of accounting information provided to organisations.

Explain the purpose of financial statements.

NOTE:

 Start with defining terms The statement of Balance sheet, The statement of Profit and loss, and Statement of Cash flow and then explain the uses of these terminologies in the businesses.

 Explain the purpose of three statements.

 Use relevant sources and citations.

Answer rating: 100% (QA)

Financial statements are essential documents that summarize the financial performance and position of a business They provide valuable insights into the companys financial health and are used by vario... View the full answer