Discuss the Biblical implications of reliable and representationally faithful financial statements.
The bible is largely in favor of reliable and faithful financial statements. As a holy book, much concerned with the teachings of God, the Bible preaches the importance of honesty, virtue, and trust. Many of these values are also applicable to business and financial statements. Proverbs 28:13 states, that “Whoever conceals his transgressions will not prosper, but he who confesses and forsakes them will obtain mercy”, which directly correlates with openness and reliability in financial statements. In the eyes of the Bible, writing accurate financial statements is crucial to leading a successful business.
