0
Financial statements are prepared as a management tool and as a legal requirementwhat are some of the financial statements that would be needed for management decision making and which are required by?
Wiki User
∙ 15y ago
As far as management goes, you might need a statement of cash flows, and an assessment of inventories. You might want to also look at the balance sheet
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What are limitations of financial management?
Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du
What are the limitations of management?
Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du
Who are the stakeholders of the financial statements?
Stakeholders of the financial statements are:- Owners:- Shareholders- Management- Suppliers- Customers- Employees- Government- Lenders- Financial institutions (investors)- Society and community
What are the limitations of financial management?
Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du
Must audited financial statements be signed by the auditor?
Yes audited financial statements are jointly signed by auditors as well as management of company as an acknowledgment.
What was the achieved aim of the Federal Financial Management Act of 1994?
the Federal Financial Management Act of 1994 extended the scope of the CFO Act by requiring agency-wide financial statements and a consolidated government-wide financial statement
How might changing one of the financial statements affect the other financial statements?
How might changing one of the financial statements affect the other financial statements?
Who is best qualified to make an analyses of a businesses financial statements?
A management accountant is a person who has been especially trained to evaluate the overall financial health of a company by examining, among other things, a business's financial statements.
What is the difference between What is the difference between financial accounting and management accounting?
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
What standard governs financial audits?
In a financial audit, the management of an organization asserts that the financial statements are prepared in accordance with generally accepted accounting principles (GAAP), the applicable criteria.
Why are dates important on financial statements?
Why are the dates on financial statements important
What are the elements of financial statements?
Five elements of financial statements are as follows:AssetsLiabilitiesEquityIncomeExpense
