Accounting records are a prime source of internal information. They detail the transactions of the business in the past – which may be used as the basis for planning for the future (e. g. preparing a financial budget or forecast). The accounting records are primarily used to record what happens to the financial resources of a business. For example, how cash is obtained and spent; what assets are acquired; what profits or losses are made on the activities of the business. However, accounting records can provide much more than financial information. For example, details of the products manufactured and delivered from a factory can provide useful information about whether quality standards are being met. Data analyzed from customer sales invoices provides a profile of what and to whom products are being sold. A lot of internal information is connected to accounting systems – but is not directly part of them.
