I need an explanation for this Accounting question to help me study.
This is for a Discussion Board
You are the Financial Analyst of Hernandez Corporation. Your company’s financial performance has been declining over the past 3 years.
The Vice President (VP) of your company have tasks you to provide feedback on the various analytical tools that can be used to assess its performance.
What explanations can you provide to your VP as it relates to the various techniques that can be used to analyze the various financial statements? Include examples as well as general comparisons to your company’s competitors and industry averages.
Provide any additional explanations and details that would solidify your point of view(s).