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What are the properties of useful financial data?

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Question added by Abdullah Mahhaden, CFA, CPA , Assurance Manager , Grant Thornton
Date Posted: 2013/06/16
Wael Bin-Othman
by Wael Bin-Othman , Senior Manager, Economics & Business Support , SABIC

If the financial data is for outside stakeholders: a certified accounting company needs to issue it, it should follow GAAP. If it is for internal stakeholders (managers): it wil be a contribution margin P&L, use variable costing (per product) methods, all cost allocations' factors shall be fully agreed and aligned within all departments

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