The objective of financial statement is to provide the users with useful information to help them make economic decisions. IAS 1 requires the financial statement to present fairly the financial position, financial performance and cash flows of an entity.

2000 words.

Number of words should exclude footnotes and reference list. your report should have a good structure: an introduction which specifiles the purpose of the essay followed  by a discussion of your content, illustration of the issue with examples and finally, end with a summary.