Can financial statements meet various needs? The chairperson of the board of directors of a large public company said in frustration: ‘The company’s written and unwritten contracts with its...

Can financial statements meet various needs? The chairperson of the board of directors of a large public company said in frustration: ‘The company’s written and unwritten contracts with its shareholders are so different from those with its managers that it’s impossible to design financial statements that will meet the needs of both shareholders and managers.’ What do you think?