FINANCIAL INFORMATION

MODULE: MANAGEMENT, CONTROL AND

ACCOUNTABILITY FOR FINANCIAL RESOURCES

ASSIGNMENT TITLE: FINANCIAL INFORMATION - THE NEEDS OF

INTERNAL STAKEHOLDERS

[NCC Education ID Number]

[Name of the Centre]

Table of Contents

Introduction1

Discussion1

Literature Review1

Importance of Financial Information3

Reporting principles4

Information Needs of Production Manager5

Information Needs of Marketing Manager5

Information Needs of Director of Finance6

Information Needs of Chief Executive6

Information Needs of Shareholders6

Conclusion7

References9

Appendix10

MODULE: MANAGEMENT, CONTROL AND

ACCOUNTABILITY FOR FINANCIAL RESOURCES

ASSIGNMENT TITLE: FINANCIAL INFORMATION - THE NEEDS OF

INTERNAL STAKEHOLDERS

Introduction

The aim of this research paper is to discuss the use of financial information for the stakeholders of organization and to highlight the importance of this information for the key positions within the organization. The paper also includes some relevant past studies in the literature review section that consist of analysis of past researchers in the similar field. In order to demonstrate the significance of financial information for the marketing manager, director of finance, production manager, chief executive, and shareholders, we will assume stakeholders of a hypothetical manufacturing organization and consider the categories of information they require in order to perform their duties efficiently and effectively, how that information might be provided and in what format.

Discussion

Literature Review

Today more companies than ever before distinguish the noteworthiness of bookkeeping information reports for internal/external utilize, and how it would be able to impact on the business choices. 'The fundamental objective of financial reporting is to outfit budgetary information to permit users of the information to settle on informed determinations. Users consolidate both the organization of cooperation (inward users) and others not incorporated in the expected operations of the business (outside users). Outer users commonly make an effort not to have access to the unambiguous records of the business or the benefit of day by day consideration in the troupe's undertakings. They settle on determinations subordinate upon budgetary explanations primed by management. This remark exhibits how almost the object of budgetary reporting is tied to determination making. The cause behind fiscal reporting is to oblige the users compass their determinations in a learned method (Arndt & Jones, 2003, Pp. 28).

Here we are determined to see why bookkeeping information is required for assembling conglomeration. Development within cutting edge universe have, with the section of time bookkeeping information clearly the most radically premier choice making devices relied upon by speculators. In view of the going hand in hand with, opines that bookkeeping records give evidence that deluxe liability bookkeeping records upheld to underpin administration estimation of unit cost at the same time as a given period. Battles that cost bookkeeping skeleton, in conjunction with managerial part, upheld a board scope of decision in textile and gathering industries (Allen, 2008, pp 637). Distinguish managerial choice-making and control as the essential utilize of bookkeeping information the same time as the modern upset in US and UK. Subsequently bookkeeping is concerned with the procurement of finance related and alternate significant information for settling on illuminated choice about assignment and administration of assets and for esteeming corporate exhibition.

The financial statements are amazingly utilized by the corporate faculty, fiscal analysts and the moguls with a specific end goal, which is ...