What Are the Four Limitations of Financial Statements? (2024)

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The following are the limitations of the financial statements:

  1. Financial statements are derived from historical costs.
  2. Financial statements are not adjusted for inflation.
  3. Financial statements only cover for a specific period of time.
  4. Financial statements do not record some intangible assets as assets
  5. Financial statements are not comparable.

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See Also
Financial Statements: Definition, Limitation of Financial Statement, VideosWhat Is Income Per Capita? Uses, Limitations, and ExamplesLimitations of Financial StatementsIntroducing Financial Statements: Limitations of Financial Statements | Saylor Academy

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Comparative Financial Statement

ACCOUNTANCY

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What Are the Four Limitations of Financial Statements? (2024)
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