Financial statements contain information about the economic condition of a company. The importance of the statements is that give more information about the company than you might think. These stataments are prepared to provide information about the financial transactions of the company at a certain time and the economic changes and financial status resulting from these transactions. For example, it shows how the company’s assets are, how much the company debts, does the company make a profit. It also contains important information about how the company manager uses the company capital entrusted to them.
