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FR: You are bound by Law to Furnish keeping in view the international accounting standard for the shareholders and Taxation Body. MR: You are advised by the management to ... See More
How the analysis was carried out, the method used and where the figures were gotten.
FR: Financial reporting are being prepared for internal & external usage as per international accounting standards such as Profit & Loss a/c, Balance sheet, AR, ... See More
While financial reports are meant for both internal and external users , the management report is mainly for internal use.