Evolution Of Financial Statement.

Q3. Short note on evolution of financial statement?

Ans.   

   Traditional Phase

       (Financial management used only during some event like takeover, merger, Expansion, etc.)

       Transitional Phase

       (It is used in day to day activities relating to fund analysis, planning, and control.)

        Modern Phase

    (It is used in decision making, capital market analysis and valuation model, etc.)

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