Explain the key elements of financial statements, including the balance sheet, income statement, and cash flow statement. Discuss how these statements are interrelated and how they provide a complete picture of a company's financial position.

Financial statement analysis is the process of analysing a company's financialstatements for decision-making purposes. External stakeholders use it to understand the overall health of an organization as well as to evaluate financial performance and business value. Internal constituents use it as a monitoring tool for managing the finances. Differentiate the three main types of financial statements: the balance sheet, income statement and cash flow statement??

The main purpose of financial accounting is: To provide useful information to stakeholders Keep track of business expenses To organize the financial transactions To record the data for evidence

Course: Accounting What is reason that financial statements are prepared for a general purpose? Reflect on that and also on company's stakeholders. Please details