Objectives Of Financial Statements

Objectives Of Financial Statements:

1. To provide reliable information about economic resources and obligations of a business and other needed information about changes in such resources or obligations.
2. To provide reliable information about changes in net resource [resources less obligations] arising out of business activities and financial information that assits in estimating the earning potentials of business.
3. To disclose to the extent possible, other information related to the financial statements that is relevant to the needs of the users of these statements.