What are the major objectives of financial reporting? Who uses financial reporting?
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What are the major objectives of financial reporting? Who uses financial reporting? What type of information will each user group need? Why?
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- What’s with disclosure? How helpful do you think it is for users of financial statements?Who benefits the most from this information? Who benefits the least?What is the primary means of conveying financial information to external users?What characteristics should information have to best meet the objective of financial reporting?