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.
When examining balance sheets, it is also important for you to have the statement of activities (income statement) nearby. Because the balance sheet is a snapshot in time, it is possible that the audit might present an artificially pessimistic (or optimistic) picture at the fiscal year end (FYE).