The balance sheet, Income statement and statement of change in equity have been required statements for years, for investors and stakeholders to establish going concern, probability and growth but not profitability and are mandated by the international accounting stardards board. Until an alternative is found they are still the only statements required by international accounting stardards board.

Discuss this statement in light of the attention paid to current importance of liquidity, changes in assets, liabilities, and equity and prediction of future cash to owners and prospective investors.

Answer rating: 100% (QA)

The statement provided highlights the traditional financial statementsbalance sheet income statement and statement of changes in equityas the longstanding tools for assessing the financial health and ... View the full answer