It has been designed to remind you that there are always limits to the reliability of conclusions reached from financial statements alone, as they do not take into account many non-financial events in the business and conditions in the external environment. Different stakeholders may, in addition, have different perspectives and different needs.

Purpose: Financial statements may be a good place to start your assessment of a business, but the purpose of this activity is to ask you to reflect

on what other elements of business information would be required in order to gain a more rounded view of a business overall.

*Question :*

Describe three different pieces of business information that would not be reported in the financial statements but which would be a necessary part of any full appraisal of a business.