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What is a financial statement?
Financial statements are arranged summaries of information in details of business over a period. The accountants keep arecord of all the information and organize these records in the easiest way so that it could be tracked down easily whenever needed.
Objective of financial statement:
The primary aim of all financial statement is same all over. So our objective of financial statements homework help explains the following as objectives of financial statements is to provide:
- Correct and trustworthy financial transactional information about all sources that has been used in a business or a company in a particular
- Alterations that have been made in any resource or other financial engagements are also recorded
- Keeping up all net changes between used and stored information over a specified time that is occurring in that concerning thecompany.
- To estimate the earning potential of the business that helps management team to calculate all estimates accurately at the end of the year.
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