Essay:

“The objective of financial statements is to provide information about financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decision.” Discuss this statement with reference to the literature.

Guidance

Essay should include as a minimum:

• who users of company published financial statements are
• likely information needs of the users
• whether these financial statements should be prepared in accordance with IFRS
• how quality of the information disclosed in financial statements could be improved