Question: Please answer the following question. The profit and loss statement is undoubtedly the most recognized tool of financial statements and activity-based reporting. However, it tells

Please answer the following question.

The profit and loss statement is undoubtedly the most recognized tool of financial statements and activity-based reporting. However, it tells little, if anything, of performance on the shop floor. Why is knowledge at both 30,000 ft. and on the ground critical for financial success?

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