ACCA Applied Knowledge · Management Accounting · Sources of data
Which of the following is an example of an external source of data for a manufacturing company's management accountant?
Government statistics on regional wage inflation are an external source because the data is produced outside the company. Payroll, stores issue records and internal variance reports are all created by the organisation's own systems, so they are internal sources of data.
- APayroll records showing hours worked by production staff
- BStatistics published by a government agency on regional wage inflationCorrect
- CStores records of raw material issues to production
- DBudget variance reports prepared by the production department
Explanation
Data published by a government agency originates outside the organisation, so it is external. Payroll records, stores records and variance reports are all generated within the company's own systems and are therefore internal sources.
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