Importance of Financial and Non-Financial Information in any business

Question :

This assessment will cover following questions:

• PSC Insurance Group Ltd. provides insurance brokerage service to its clients. How accounting information help to make effective decisions of the organisation.
• Identify the significance of financial statement and ratio analysis to make better investment in a PSC Insurance Group Ltd.
• Discuss the non- financial information such as corporate governance practices and ethical considerations.

The financial information for every business is an important aspect for growth and making decisions. Along with the financial information non financial information is also of equal importance for the business. It is essential in the decisions for making policies and in allocation of resources. Company if do not take effective steps for financial performance, it may not be able to achieve its desired goals and objectives (Haller, Link and Groß, 2017). A business is not only affected by the factors related to the financial but also by other factors like social, environmental changes, competition and many other. There are number of times where the performance of company is affected more by the non financial factors than the financial figures of revenues and operational cost.