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 cash flows provides insight that the balance sheet and income statement do not, particularly in regard to a company's cash position. Summarize why cash flow accounting is important. Without positive cash flow, a company will not be able to meet its financial obligations, thereby leading to a cash crunch or bankruptcy.