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The financial information is typically found in a firm’s financial statements and managerial reports. This paper will identify the audiences, purposes, and natures of financial statements. Finally, the use of the financial accounting information will be discussed in order for the business to make informed and ethical business decisions.
Audience, Purposes, and Natures of Financial Statements
The two main audiences for a firm’s financial statements can be considered as internal or external. Internal audiences include management, owners, and other employees interested in keeping tabs on the financial health of the corporation...
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