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What Are The Three Primary Purposes Of Internal Accounting Information?
What are the three primary purposes of internal accounting information?
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Internal Accounting is a set of procedures through which sound financial management practices are promoted and protected. Internal Accounting information is basically economic information about the activities of the business. The three primary purposes of this information are as under:
- reporting the financial position of the business.
- Information about the performance of the business over a specific period of time.
- Measurement of accounting transactions.
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