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Introduction to Financial Statements 01- WebQuest | Facts | Issues | Authorities | Conclusion | Home | Organizations engage in economic activities with "business partners" such as customers, suppliers, owners, creditors, employees, managers, and governments. Periodically these business partners require that the organization provide information that summarizes the results of the economic activity. The exact nature and format of that information depends on the nature of the decisions that any given type of business partner must make. For example, tax authorities from the government need to make different decisions about an organization than do the managers within the organization. Consequently, these two types of decision makers demand different types of information. This course and this exercise focus on the information required by an organization's owners and creditors. |
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