KCQ

In this chapter I see the four financial statements and balance sheets as tools business use, I am surprised that there is not a standard way of doing financial statements. This seems very open to companies to make any negative information hard to find and promote the positives easily. If all companies had to produce the same data in the same way it would be easier to compare company’s performance.

I do understand however that there are many different companies with many different data sets but I am sure they still at the core use the same basic information, financial & non-financial. The financial statement being a window into the company I can see a great benefit in introducing a standard format.

For example in reviewing my company’s financial statements I found it very hard to find the footnotes.