Internal reporting system:
what are three examples of internal reporting systems company can use to gather information about their business?
The internal reports which are important from the point of business growth and development are explained below in the following points:-
1. Internal financial reports : Internal financial data plays an important role in the business decision making process and management. Financial reports consists of two types internal and external financial reports the purpose of internal reports is to give the management required information about the available funds, future requirements of funds, quarterly financial position of the company whereas external financial reports are made available to business stakeholders.
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