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Information is used within a business |
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No legal requirement |
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No requirement to comply with IAS |
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Focus on specific areas of an organisation's activities |
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Uses predetermined costs, estimates and budgets for decision making |
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Focuses on generating forecast & budget information |
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For both internal and external use |
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Often has a legal requirement |
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There is the need to comply with IAS |
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Concentrates on the organization as a whole |
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Uses historical data |
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Focuses on external reporting |
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