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Is company management an external user of financial information?
Wiki User
∙ 16y ago
no it is an internal user of information.External users are financial analysts outside the company, lenders and creditors such as banks and suppliers, and groups such as environmentalism groups and govermental bodies.
Wiki User
∙ 16y ago
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Are Bondholders the internal users of company's accounting information?
Generally bondholders would be external users of financial information. Prudent investors would most likely look over a company's external financial statements and disclosures before purchasing bonds from the company.
What are financial compilation services?
The certified public accountant (CPA) prepares--compiles--financial statements based on information supplied by the company's management.
What is the difference between internal and external factors?
In any Company there are Internal Factors affecting the company and External Factors affecting the company. Internal Factors are Management Descisions on what sort of business the company is in, quality of services or stock sold by the company. External Factors affecting the company include the Global Financial Crisis, government policies, and central bank interest rates.
What does a wealth management company do?
Maybe you’ve heard about seeing a wealth management company, but you’re not certain about what they can do for you. Well, while there are many things a wealth management company can do, their main purpose is to help you achieve your financial goals – both currently and for the future. A company like Merit Financial Advisors has experience helping individuals and families and will create custom-tailored financial solutions. A wealth management company can offer such services as financial planning, risk management, investment management, and even young professional planning for people looking to deal with debts and build a more stable financial future for themselves. If you have questions and are looking to speak to a wealth management company about your financial needs and future, Merit Financial Advisors can help. Contact their team today for a complimentary consultation and more information.
Who are the users of financial information that are focused on the business ability to meet their financial obligation?
the internal and external users are the persons who uses the financial information , either they are directly related to the company or indirectly to their use, they are basically shareholders, debentureholders,creditors, employees and the government, financial institutions and other organisation to evaluate the status of the company.
What is internal and external sources of information in marketing strategy?
Internal sources of information could be a database management system that is used by the company. Employees and management are also examples of internal sources of information. External sources are outside of the organization and harder and could include studies and market research.
Internal audit and external audit?
Internal Audit: Their main gig is to assess and improve the effectiveness of risk management, control, and governance processes within the organization. Internal audits can cover a broad spectrum, including financial controls, operational processes, and compliance with company policies. Their goal is to provide constructive feedback to management, helping the organization operate more efficiently and mitigate risks. External Audit: Now, external audits are a bit like the annual check-up from your financial doctors. These auditors come from independent firms and scrutinize your financial statements, making sure they present a true and fair view of the company's financial position. External audits are often required by regulatory bodies and provide assurance to stakeholders, like investors and creditors, that the financial information they rely on is reliable. Go to BlueLogiQ, which can help you with both internal and external audits
In what various ways can and should financial reporting be different from reporting from reporting to management?
Financial (external) reporting produces information used by external users, investors, regulatory authorities, etc. who are concerned with the overall financial situation of the company. External reporting should put a premium on accuracy and understandability. Cost Management (internal) reporting or accounting focuses on analyzing costs and their drivers--for internal purposes such as measuring efficiency or decision making processes. Although accuracy and understandability are still important, internal reporting focuses more on timeliness and relevance.
What are contained in the reports required by Section 404 of the Sarbanes-Oxley Act?
"The Company must report on internal controls over its financial reporting. Four key elements must be included in this report:Statement of Responsibility by Company Management (the CEO and CFO) for establishing and maintaining an adequate internal control structure and procedures for financial reporting.Statement identifying the framework used by management to evaluate the effectiveness of the Company's internal control over financial reportingManagement's Assessment of the effectiveness of Internal Controls over financial reportingAttestation by the company's external auditor on Management's assessment of the effectiveness of the company's internal controls and procedures for financial reporting."
What services does Raymond James Financial offer for their clients?
Raymond James Financial is a company that offers a range of financial services. Some of the things offered by this company are wealth management, financial planning, asset management and investment banking.
What is the difference between financial accounting and cost and management accounting?
Financial accounting is the preparation of financial statements for decision makers. Cost accounting is collecting, analyzing, summarizing, and evaluating courses of action. Management accounting is simply used to better a company by reviewing the accounting information.
Who are external users of a company's financial statements and why do they need information from this financial statements?
investors,state It is everyone! But more so, people who would like to make an informed decision (In terms of purchasing shares). Hence through the use of financial statements, managed by accounting standards and external government bodies they can ascertain whether a company is making a loss/profit etc and whether they should invest in the company or not. In short to protect members and manage public interest.
