What are the problems and limitations? You cannot rely on them for excessive consent because some data may not show its real value. Indeed, for example, transactions are initially recorded according to their cost, but this can change over time. Inflation can also affect data liabilities, if inflation becomes high, balance sheet liabilities and assets will appear very low. You can't always compare your financial statements with those of other companies because some of them use different accounting practices. They cannot predict the future, they only show present values, the company can change a lot from month to month. And in my opinion the worst limitation is that there can be frauds because the management can distort the results, this is a common situation where there is a lot of pressure to achieve excellent results.