It can be very helpful to look at a side-by-side comparison of different foods. By seeing both foods compared, you can make wise choices on what you eat. On this page, we compare Flank Steak Versus Chicken to see which food has fewer calories, less fat, more protein, and more fiber.
A: Financial reporting is important because it helps to ensure that companies and organizations comply with relevant regulations and, if it is a public company, shows investors the current financial health of a company. Investors use need this data to make investment decisions, voice concerns and vote on issues at shareholder meetings.
The Statement of Principles seeks to identify why financial statements are produced; and whether they are meeting their objective. The reason it says, is: to provide information about the financial position, performance and financial adaptability of an enterprise, that is useful to a wide range of users for assessing the stewardship of management and for making economic decisions. To meet their basic objective financial statements must be useful; and the information relevant and reliable.