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.
For example, you also have to budget based on the balance sheet. You need to project the levels of assets and liabilities you expect to have in the future. With the regard to the statement of cash flows, it is particularly important with regard to budgeting. Projecting cash flows is important so you will know you are always in a positive cash flow position and can meet your short-term debt obligations.