can someone help answer this question.

When it comes to the preparation of financial statements, there is some disagreement as to how meaningful a tool they really are in determining the profit or loss of an equity. Let us explore this in our class discussion.

Please respond to the following prompts in the class discussion section of your online course:

• Some say, because of assumptions and estimates that go into the preparation of financial statements, the statements are inaccurate and are, therefore, not a meaningful tool to determine the profits or losses of an entity or the financial position of an entity. Do you agree or disagree with this statement? Why or why not?