Answer to Question #70210 in Accounting for SharonNeal
adequate and capable to reflect the real property and business condition of the organization. In this regard, the value of IAS is important not only for foreign but also for national investors.
Also, the main users of external financial reports are the creditor, potential investor or
other community representative who will use the reports to make financial decisions.
On the contrary, there are no generally accepted standards for internal reporting. This is
due to factors such as: the list of users of reporting, the level of confidentiality and the level of
continuity of information. In particular, users of internal management reporting include managers, board of directors or other parties that operate within the organization. The content and
completeness of internal reports depends on the level of access to commercial information.
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