Business Impact of Financial Statements In this assignment, you will reflect on the importance of financial statements to businesses and how you can

Business Impact of Financial Statements

In this assignment, you will reflect on the importance of financial statements to businesses and how you can improve the information presented in these statements. Using reference materials from the ITT Tech Virtual Library to support your position, answer the following questions: 

• Which financial statement is the most important in your opinion and why?
• What changes do you recommend to improve the information presented in the selected financial statement?
• What checks and balances will be incorporated in the selected financial statement, based on your suggested changes?
• Will the suggested changes be affected by the Sarbanes-Oxley Act of 2002? Share a rationale to support your response.

Submission Requirements:

Submit the completed assessment as a three-page Word document.

• Font: Arial, 12 point
• Line spacing: Double
• Use the APA citation format.