Does financial statement provided all information for decision making

Does financial statement provided all information for decision making

No, financial statement does not provide all information which is necessary for the economic decision making ,however, financial statement provides some basic information for economic decision making.

Financial statements basically focus on the financial information and provide little information about non financial aspect of the organization, similarly financial statement report the transaction of past and does not describe the future of the organization. These information may be very much relevant for the economic decision making.

Financial statement mainly focuses on financial performance and financial position of the organization and its ability to generate the cash flows.

Can lay man understand financial statement?

It is normally assumed that some basic knowledge of business, economics and accounting is required to understand the financial statements. How much knowledge is required to understand the financial statement is a relative question.

Financial statement does not involve complex calculation or formula to understand and only a reasonable knowledge of the business and accounting maybe sufficient to understand the financial statements.