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    justice8504's Avatar
    justice8504 Posts: 2, Reputation: 1
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    #1

    Nov 14, 2007, 02:22 PM
    Financial Statements?
    What are the pros and cons of having more than one financial Statement.
    happyansh's Avatar
    happyansh Posts: 3, Reputation: 1
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    #2

    Jan 28, 2011, 01:55 PM
    Pro:
    Different financial statements provide different information to external users or the management to make sound business decisions.
    External users: shareholders, bondholders, bankers and other types of creditors such as suppliers.

    The balance sheets tells what debts will be due in the future and how many assets are there to satisfy them
    The income statement tells the rvenues and expenses for a period.
    The statement of cash flows tells where cash came from and how it was used during the period.
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