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Wgu Financial Task 1 Essay

1494 Words6 Pages

Task 1

The users of Orlando Limited financial statements can be simple separate as 2 types of user which is external users and internal users. The first external user involve in the Orlando Limited financial statements is stakeholder who can be a person, a group or organization that has interest or concern in the Orlando Limited financial statement. Stakeholder can be affected by the Orlando Limited financial statement, objectives and policies. Some examples of key stakeholders are creditor, employees, owner, suppliers and the community from which the business draws its resources. The creditor is the person who extends credit by giving another entity permission to borrow money if it is paid back at a later date. Creditor can be classified as either from ‘personal’ or ‘real’. Personal creditor is the people who loan money to the friend or family. The real creditor is loan under contracts with the other and we should have real assets to mortgage such as building, …show more content…

They may have some expert technical skill which able to perform the work properly. Their salary is not yet record in the Orlando Limited financial statement is RM6000. The owner is the highest executive director who set up the company mission and vision. The owner of a Orlando Limited is typically called as Chief Executive Officer. He or she will make the directly decision to the Orlando Limited Financial Statement. The Community from which the business draws its resources is the person who provides the raw material to a company to process as a company branded material. The last stakeholder is supplier. The supplier is a party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, and he is the person who commonly adds specialized input to deliverables. It also called as vendor. Not all stakeholder are equal. The needs of stakeholder are to earn some of the benefits from the Orlando

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