Tag Archives: #StakeholderCommunication

Q20.16 What are the objectives of preparing financial statements ?

preparing financial statements

Preparing financial statements Website Link: Preparing financial statements: The objectives of preparing financial statements are as follows: 1.Providing Information: Financial statements aim to provide relevant and reliable information about the financial performance, position, and cash flows of an entity. They offer insights into the organization’s financial activities, enabling stakeholders to make informed decisions. 2.Assessing Performance:… Read More »

Why financial statements are prepared?

Financial Statements are Prepared

Financial Statements are Prepared Financial Statements are Prepare, Company financial statements are usually craft by the accounting and finance department of the company, comprising proficient accountants, financial analysts, and other experts well-versed in financial reporting. The Financial Statements are Prepare encompasses various stages, which include: 1.Gathering Financial Data: The accounting team collects and organizes financial… Read More »

Why project status reporting is important?

Project status report

Project Status Reporting   Project status reporting holds significance for multiple reasons: 1. Communication: Project status reporting facilitates effective communication among project stakeholders, including team members, managers, clients, and other relevant parties. It keeps everyone informed about the project’s progress, key milestones, issues, and risks. Clear and regular communication helps align expectations, promotes transparency, and… Read More »

Why a Company prepares monthly and Yearly Annual Accounts?

Monthly and Yearly Annual Account A company prepares monthly and yearly annual accounts for several reasons: 1.Financial Monitoring and Control: Monthly and yearly accounts allow companies to closely monitor their financial performance and track key metrics on a regular basis. By reviewing monthly financial statements, companies can identify trends, spot potential issues, and make timely… Read More »