THE USEFULNESS OF FINANCIAL STATEMENT IN ASSUASIVE THE PERFORMANCE COMPANIES AND IN GUIDING INVESTMENT DECISIONS (A CASE STUDY OF SUNRISE FLOUR MILL LTD ENUGU)
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Financial Statement: The use of financial statement in any business organization cannot be over emphasized financial statements are needed by variety of people for different purposes . for instance, the government needs the financial books of a company for taxation purposes, the investors want to know how profitable a company is and also the management of a company will like to know the level of their performance: all these cannot be known without the analysis of financial statements of the company or companies involved.
The research work therefore, studies the usefulness of financial statements in assessing the performance of companies and in guiding investment decisions, in order to provide investors, management, government and others what the company is worth.
In today’s economy, information and accountability have assumed a larger role in our society.
As a result the financial statement with an independent audit report are of vital services to investors, creditors and other participants in economic exchange.
Financial statements can only be valuable to those who know how to use them. As a result of their key role in business, the researcher has been spurred to embark on this work.
Financial ratios have been used to analyze and interpret the financial statements or the selected companies. That is in an effort to sow, for the benefit of those who should like to be in business, how the financial statement could be used to aid in investment decisions and business growth.