Q-1: What are the components of a budget? Are the components the same for every organization? Why or why not? Should every organization forecast its operating budget? Why or why not?
Q-2: Who are the users of financial statements? How would users differ in their views of the financial statements?
Q-3:
Why would users rely on financial statements? What is an example of a financial measure that an external user might use? What is an example of a financial measure that an internal user might use?
Answer is 200 words for each question.
Answer will be sent by email as attachment.
