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| Through which statements the corporate management communicates financial information to its owners and various other external parties? |
Balance sheet Statement of Profit and loss Cash Flow Statement Financial statements |
| Financial statements |
| Financial statements are the basic and formal annual reports through which the corporate management communicates financial information to its owners and various other external parties which include investors, tax authorities, government, employees, etc. These refer to: the balance sheet (position statement) as at the end of accounting period, the statement of profit and loss of a company and the cash flow statement. |
