Using accounting and financial information targets professionals with limited exposure to or formal training in accounting or related nance disciplines these individuals often include but certainly are not limited to engineers information technology specialists retail managers entrepreneurs marketing directors construction . Uses of financial accounting information income statement financial accounting is used to report the outcome of business operations in monetary form to do this balance sheet financial accounting is also used to determine a companies financial position for a specific period in cash flow . Using accounting and financial information targets professionals with limited exposure to or formal training in accounting or related nance disciplines. Using accounting and financial information accounting often is referred to as the language of business unfortunately many business professionals lack the fluency in this unique language required to perform basic financial analysis prepare budgetary forecasts or compare competing capital investment alternatives