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Purposes for the external, to gauge whether the business is worth…
Purposes for the external
The use of final accounts for
internal stakeholder?
To judge what went wrong, and how to improve
Sally:
to be able to make better business strategies or objectives based on their performance in the business
can manage resources/production level based on financial stability
Alicia :
a. Internal stakeholders
Use finance accounts for decision-making, budgeting, and monitoring profitability and liquidity.
b. External stakeholders
Use finance accounts to assess financial performance, creditworthiness, and ensure compliance and transparency.
Alicia : to evaluate financial performance, control costs, set budgets
Internal stakeholders: make business decisions, check job security, see if investment is profitable
Audrey: Use finance accounts for decision-making, budgeting, and monitoring profitability and liquidity.
3 more items...
Matthew Wahyudi:
Internal stakeholders use final accounts for decision-making and performance evaluation.
External stakeholders use them for assessing financial stability, trustworthiness, and compliance.
external stakeholder?
Sally
Daniel: To see the business' financial stability and consider whether it is worth investing to
To see how the business could improve in the future, and also to see what went wrong
company --> setting up prices and qty to buy
to see the business' transparency in their cash income and outflow
Audrey: determine if the company is a good risk, make investment decisions, understand stability of the business
Use finance accounts to assess financial performance, creditworthiness, and ensure compliance and transparency.
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Angel
Internal stakeholders:
To assess performance,
aid decision making,
manage the overall business operations
Tristan
Internal use: Final accounts are applied at the business level to monitor overall performance, control costs, and guide future planning. They provide a clear view of how the business is faring and help to help with sound decisions for improvement and development.
to analyze profitability, growth potential, and financial health before investing
Gwyneth A.T: To evaluate financial performance control costs and set budgets.
Deiven:
These are people inside the business who use final accounts to make decisions.
Internal Stakeholders
To check profit levels, returns, and decide on reinvestment or dividend payouts.
To evaluate financial performance, efficiency, and plan future budgets/strategies.
To see if the company is profitable and financially stable (affects job security, wages, bonuses).
Jeff
they are use to check the well being and to evaluate the production effectiveness.
Support decision-making and strategic planning
Evaluate performance against targets
Identify areas for cost control and improvement
Sofia
can heck profitability and return on investment.
can use final accounts for decision-making, such as cost control, pricing strategies, expansion, and improving efficiency.
can know the stability and performance of the business (e.g., job security, bonus opportunities, salary negotiations).
Kenzo
Directly involved in the daily operations of the business.
Make decisions that guide strategy and performance.
Contribute skills, time, and effort to achieve goals.
Ensure the organization runs efficiently and effectively.
Seek rewards, security, and growth from the business’s success.
Help maintain culture, values, and internal stability.
Jeff :
( External stakeholder )
Ensure transparency and accountability
Check compliance with legal and tax requirements
Compare performance with competitors
Gerald
Internal stakeholders:
To gather information for strategic and operational choices, such as how to adjust future activities or where to allocate resources.
To review past results and evaluate the current performance of different departments, projects, or the company as a whole.
To perform financial analysis, modeling, and forecasting to predict future outcomes and plan accordingly.
To monitor and enhance performance, identify areas for improvement, and ensure resources are used effectively.
To check compliance with laws, taxes, and reporting standards.
To evaluate profitability and financial health before investing, lending, or trading.
To judge reliability and risk in dealing with the business.
Decide whether to offer trade credit or not.
Sofia
Sofia
To assess profitability and financial health before investing, lending, or trading.
To evaluate the risk
To build trust and transparency in the company’s operations.
Tristan
External use: External use of final accounts involves their use outside the organization to determine its financial position, stability, and reliability. They give a glimpse of consistency and profitability to enable individuals outside to decide whether the organization is efficiently run and can survive for a long tenure.
Provide investors and banks with financial transparency to judge performance and risk.
Audrey: support investment decisions, evaluate creditworthiness,benchmark against competitors
Gerald
Joel:
Daniel: to determine whether or not a market is worth entering
to see if the company is trustworthy and ethical
to evaluate the risk of putting in money to the business
to hold the business as legal and ethical with transparent financial records
Angel
Evaluate financial position of the business
Ensure compliance and accountability
Building trust and transparency
Sally:
to see the business' transparency in their cash income and outflow --> to determine whether they are socially responsible or to attract investors
Gerald
To assess a company's profiability and financial stability before investing
To evalute a company's ability to repay loans and its overall financial health
To ensure businesses comply with financial laws and tax regulations
To understand the company's economic health and performance to make informed decisions about its value
Gwyn: The purpose of external stakeholders is to use final accounts for building trust and transparency while assessing the business’s financial health and reliability.
Alicia ; Use finance accounts to assess financial performance, and ensure compliance and transparency.
to gauge whether the business is worth reinvesting to for business longetivity
Tristan