Financial Statement

Financial Statement

In 1997 Kirkegaard asserted that the absence of fundamental bookkeeping theories makes no one capable of appreciating financial statements. Various financial managers and company executives apparently interpret financial statements according to how they deduce figures that would serve them for making fiscal choices and management. Apparently, the current type of financial statements drawn up by companies turned out to be frustrating. The blame for the shortcoming almost always went back to the bookkeepers who seemed to be out of touch (Kirkegaard, 1997).