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Please give us your view of why accounting and financial reporting are important. Tell us who...

Please give us your view of why accounting and financial reporting are important. Tell us who are the most likely people to use financial statements and what they hope to gain from them. Tell us what experiences you may have.​

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Answer #1

A company financial statements help us provide various financial information that creditors, debtors, investors, analysts, government and even the company personnel helps to know the financial performance.the financial statements are prepared in accordance with Accounting Standards.

The Accounting is very helpful to the management decision making. The main object of accounting is recording of financial transactions Systematically

1 company management
2 Competitors
3 Customers
4 Employees
5 Government
6 Analysts
7 Investors
8 Lenders
9 Bankers
10 Suppliers

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