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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:

  1. Correct and trustworthy financial transactional information about all sources that has been used in a business or a company in a particular
  2. Alterations that have been made in any resource or other financial engagements are also recorded
  3. Keeping up all net changes between used and stored information over a specified time that is occurring in that concerning thecompany.
  4. 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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