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LOS 29.a Discuss the roles of financial reporting and financial statement analysis.
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• Financial reporting is intended to provide useful information about a fi rm’s
performance and fi nancial position to assist users (managers, stockholders, creditors, etc.) in making economic decisions. • Financial statement analysis uses fi nancial reports to evaluate a fi rm’s past performance and fi nancial position and to make future projections relevant to investment and credit decisions. |
