Financial Statements - use Flashcards
1
Q
Who are the users of financial statements?
A
- Owners
- Employees
- HMRC
- Trade unions
- Competitors
- Investors
- Lenders
2
Q
What do owners use financial statements for?
A
To asses profits and to inform decision-making.
3
Q
What do employees use financial statements for?
A
To ensure their jobs are secure.
4
Q
What do HMRC use financial statements for?
A
To ensure the business is paying the correct amount of tax.
5
Q
What do trade unions use financial statements for?
A
To assess if their members are due a pay rise.
6
Q
What do competitors use financial statements for?
A
To measure their success against each other.
7
Q
What do investors use financial statements for?
A
To assess their potential for investment.
8
Q
What do lenders use financial statements for?
A
To decide whether or not to give a loan.
