Financial documents play a critical role in running small and large companies. The documents help businesses of all kinds in different industries to communicate their financial information to external parties or entities such as investors and banks. The financial reports summarise a business’s accounting procedures and features cash and account title tabulations. The financial reports also showcase the financial status or position and performance of a company or individual; including changes in finances over a specified period. Businesses aim at using the statements to share financial decisions with internal and external parties to help with economic decisions.
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