THE OBJECTIVES OF FINANCIAL STATEMENTS AND THERE USEFULNESS TO THE GENERAL USER GROUPS

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ABSTRACT

There is a global confusion and misconception in identifying the objectives of financial statement and their usefulness to the general user groups in an office. Some accountant appear not to be aware of the objectives of financial statement in the execution of their accounting duties.

Many bodies and individuals like “R. J. Chambers, David Alexander and the National Association of Accountants” had accentuated on the objectives of financial statements in an organization long before I intended to carry out a survey of my own on the same issue.

It is on this background, that I therefore, conducted a research with a view of appraising, vindicating, exposing and making clearer the objectives of financial statements of accounting in the mounding office activities, and there usefulness to the general user groups in particular.

This research work will therefore throw some light on the many years old confusion and controversial issues on. What the financial statement is, its objectives and usefulness to the user groups.

TABLE OF CONTENT

TITLE PAGE II

APPROVAL PAGE III

DEDICATION IV

ACKNOWLEDGMENT V

ABSTRACT VI

TABLE OF CONTENT VII

CHAPTER ONE

1.0 INTRODUCTION 1

1.1 OBJECTIVES OF THE STUDY 2

1.2 SIGNIFICANCE OF THE STUDY 3

1.3 LIMITATIONS OF THE STUDY 4

1.4 DEFINITION OF TERMS 4

CHAPTER TWO

2.0 LITERATURE REVIEW 7

2.1 OBJECTIVE OF FINANCIAL STATEMENT 7

2.2 USERS OF FINANCIAL STATEMENT 8

2.3 TYPES OF INFORMATION’S REQUIRED BY USERS OF FINANCIAL STATEMENTS

2.4 CHARACTERISTICS OF USEFUL INFORMATION11

2.5 USEFULNESS OF FINANCIAL STATEMENT TO GENERAL USER GROUPS

CHAPTER THREE

3.0 SUMMARY OF FINDINGS 16

3.1 CONCLUSION 17

3.2 RECOMMENDATION 18

BIBLIOGRAPHY 20

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THE OBJECTIVES OF FINANCIAL STATEMENTS AND THERE USEFULNESS TO THE GENERAL USER GROUPS

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