Why do businesses prepare financial statements?

Why do businesses prepare financial statements?


Basically to know the two facts about the business the financial statements are prepared:

- Financial position of the business at any given point of time in financial terms

- Result of operations carried out by the business organization during specific period.
What are the limitations of Financial Statements?
Limitations of Financial statements are: ...Financial statements are available after a specific period of time is over….
How can the analysis of financial statements be carried out?
There are two ways in which analysis of financial statements can be carried out:…
What techniques are used for the analysis and interpretation of financial statements?
The techniques used for the analysis and interpretation of financial statements are:…
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