What are some problems and limitations? You cannot rely on them for excessive consensus because there may be some data that does not show their real value. This is because, for example, transactions are initially recorded based on their cost but this could change over time. Inflation can also affect the liabilities of the data: if inflation becomes high, the liabilities and assets on the balance sheet will appear very low. It is not always possible to compare your financial statement with that of other companies as some companies 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 fraud because the management can distort the results, this is a common situation when there is high pressure to achieve excellent results