Why do companies need timely and accurate financial statements?

Financial statements are so much more than year-end tax reporting.  Monthly reports are a key indicator to smart business people as to how they are performing, and how they can improve.  If you own a small or medium sized business, you surely work very hard. Shouldn’t that hard work translate into measurable success? Accurate financial statements provided no later than ten days after the end of the month will allow you, the smart business owner, to make appropriate course corrections that will enable you to realize the success your hard work deserves.