You and a friend, who is not an accounting major, are watching the news when they announce that Amazon.com, Inc. has just released their earnings report, including all four primary financial statements. Your friend knows that you are well versed in financial reporting and the usefulness of accounting information and asks you, "Why is this news?" What are the objectives of financial reporting. Include an explanation of who might care about this news and why. Remember to explain these things in such a way that a non-accounting major would understand.
Financial report is very important, as it provide the financial health of an organization. In addition, the performance of an... View the full answer