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Does the purpose of financial statements change with users?

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Does the purpose of the income statement, Balance Sheet, and Statement of cash flows change based upon the frame of reference of the user of reports (i.e. Banker, Vendor, Proprietor, Investor, etc.)? Defend your position.

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In 175 words, the solution expands to discuss the level and content of financial statements depending on the user.

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The purpose of a financial statement is to fairly present the financial position of the company including the results of operations at a point in time. In a word, no, the purpose does not change, but the level of assurance presented will depend on the needs of ...

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