? why the people needed the financial information

To change something innhis life

They needed the financial information for analysing the financial status and thereby developing their firm as per the status of finance

Financial information helps the business owners and investors take key decision be it on capital, sales and marketing strategy, cost efficiency, headcount and continuity.

The main purpose of financial statements is to provide information about the current financial status of an organisation. It helps to make decisions regarding the allocation of next resources.

The need of financial information is based on the necessity to analyse the current financial status to help understand ones's stucture and helps to set startegies and make better work decisions and goal prosses

For any business and for the people who run it, the importance of accurate financial Infromation cannot be underestimated. Some of the most important financial statements that are imperative for an organization of any scale are: Income Statement, Balance Sheet, Statement of Stockholders’ Equity,  Cash Flow Statement and Statement of Comprehensive Income. The numbers revealed through these financial statements play an immense role in making decisions, planning strategies, determining success, estimating failures, and telling the world the story of the company.

financial information will be help the management to evaluate and analyse the financial conditions and the operating progress of the firm. It also help to take better decisions by the top management and owners.

Financial information is the important sources of information to all the users of accounting information management, owners, debtors, creditors, employees, government agencies, financial analysts and evaluates the org. performance. 

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Based on who would be using the financial satatements, for insance

Board of director to assess the management performance and determine the compensation

Creditors: to assess company's ability to repay principle amount and interest associated withy loan

Tax departments: income tax 

Government : compliance with regulations, and laws

Potentienal Investors: to value a company

People needed to know the financial information of the company for the reason that the company has a capacity to sustain their business.

People need financial information to take their financial decision based on that to avoid uncertainties and difficulties