internal reports are generally used by? lenders management employees suppliers
Homework Answers
| Internal reports are developed specifically for senior management in the way they are required by them. | ||||||||
| There is generally no standard format for internal reports and are prepared based on the design specified by the management. | ||||||||
| Internal reports are reviewed by management to understand the company's performance and progress | ||||||||
| Lenders, suppliers and employees used in the external reports as internal reports are not available in public and are not shared externally and internally with everyone. | ||||||||
| External reports are shared with everyone which are based on standard format required by compliance authorities | ||||||||
| Thus, internal reports are usually used by management | ||||||||
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internal reports are generally used by?
lenders
management
employees
suppliers
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Violating GAAP Why is it permissible to violate generally accepted accounting principles when preparing reports used by company management?
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