A study on importance and benefits of considering 5s while preparing financial statements of an organization

Abstract

Organization drives all its efforts towards accomplishment of objective that is pre determined. Achievement of objective incorporates ample of activities to be carried out in a synchronized way. The real fulfillment of goal set is reflected in financial statements of an organization. Financial statement reflects the true image of working of an organization. Financial statements are the one that leads organization to move forward to grab opportunities in the market, to grow or progress, to expand and much more. Keeping these into consideration the research work is based on benefits and importance of implementing 5s while preparing financial statement of an organization. The paper draws attention towards how smooth and easy it becomes for employees in the organization to prepare financial statement if 5s is maintain and implemented. The basic objective of work is to analyze the real impact of 5s on financial statement preparation.