Investing
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Jun 19, 2005
Are financial accounting statements useful to investors?
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Are financial accounting statements useful to investors?
1.1 Introduction
Financial accounting statements are summaries of monetary data about an enterprise and are used in an attempt to help make informed decisions in the present and future.
Financial statements portray the effects of transactions and other events by grouping them into broad classes (or elements) according to their economic characteristics.
The three basic financial statements are the balance sheet, the income statement and the cash flow statement. There are many different entities that utilise financial statements. Financial statements may be drawn up for private individuals, non-profit organisations, manufacturers and service industries. Three major groups that take advantage of the usefulness of financial statements are large corporations, investors......
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Approximate Word Count: 982
Approximate Pages: 4 (250 words per double-spaced page)
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