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According to the FASB's Conceptual Framework, the primary objective of financial reporting is to...
provide information to taxing agencies to ensure an entity has paid its fair share of the tax burden.
provide predictive information related to the guaranteed returns an investor should expect if they decide to invest in a company.
provide useful information to investors and creditors in their role as capital providers to business.
report past performance of a company to its internal management to help them determine the best strategy going forward.