“Financial statements are a structured
representation of the financial position and
of an entity’s financial preformance. The
objective of financial statements is to
provide information about the financial
position, financial performance and cash
flows of an entity, useful to a wide range of
users in making economic decisions.
Financial statements also show the results
of management resources [6]. The structure
of financial statements includes “statement
of financial position at the end of the
period, income statement on period,
statement of changes in equity per period,
cash flow statements per period, notes
comprising a summary of significant
accounting policies and other explanatory
information