The main objective of financial communications of any sole proprietorship is to survive. Financial communications would only be viable if it remained a business; to do this, a business must create profit. Besides profit, financial communication pursues many other objectives; the long-term goal of securing wealth is associated with meeting financial requirements, such as paying suppliers, clearing debts, and paying appropriate dividends to shareholders. In addition to managing and maintaining good financial management in order to generate trust within the company. McCarty's turnover in the 2013/14 annual report is put at £17,680,000,000 (McCarty's, 2014). The company demonstrates competent knowledge of the market in order to acquire such a high turnover, although this figure is actually down compared to the 2012/13 annual report where the turnover was 18 £166,000,000. The drop in turnover represents a loss of market share for McCarty's, as well as a drop in gross profit compared to 2013/14. Financial reporting involves financial reporting, McCarty's engages in financial reporting that involves reporting, multiple individuals and companies have interests. In the way McCarty's operates as a business, these individuals or businesses may be called stakeholders. Stakeholders can learn more about the performance of a company, in this case that of McCarty's, by examining the financial statements published each year. Stakeholders can use the income statement to know the profitability of the company, the balance sheet communicates the company's ability to obtain and invest its resources. The cash flow statement communicates McCarty's ability to manage its cash flow, whereas; financial results are communicated via published financial information...... middle of document ......0ANNOUNCEMENTPubished%20online%20140314.pdf (Last accessed 04/07/2014)Online.wsj.com. (2014) Stock Charts - WSJ.com - for Wm. Morrison Supermarkets PLC. [online] Available at: http://online.wsj.com/quotes/stock_charting.html?symbol=MRW&type=lse&osymb=GB-lLMRW&x=0&y=0&time=100&startdate=2%2F3%2F2013&freq=1dy&enddate=2%2F4 % 2F2014&wtype=64&compidx=&comp=&ma=1&maval=200&uf=0&sid=121970&symb=GB-lLMRW&lf=1&lf2=0&lf3=0 [Accessed April 7, 2014].Powell, R (2008). AS Economy. Oxfordshire: updates from Philip Allan. 190.Redmayne. (2014) Morrisons financial data. [online] Redmayne Bentley Stockbrokers, Leeds. Available at: http://www.redmayne.co.uk//research/securitydetails/financials.htm?tkr=MRW (last accessed 04/07/2014Tutor2u. (2012) Principal ratio analysis. [online] Tutor2u . Available at: http://www.tutor2u.net/business/accounts/main_ratios.htm (Last consulted 07/04/2014)