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Internal and External Information

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Internal and External Information

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.
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  • Author
    Posts
  • May 5, 2023 at 7:41 pm #683960
    VslVsl
    Participant
    • Topics: 4
    • Replies: 3
    • ☆

    Hello Sir, Hope up you are doing well. Can you please answer me in the following question.

    Identify by placing a tick in the correct boxes in the table below, whether the information gathered is from an internal or external source.

    1) Number of people clicking on the ‘Coming soon’ link on the company’s website
    2) How likely one of our customers is to recommend our business to a friend or colleague
    3) Share prices of different competitors over time
    4)Average household income in Country A in 20X6

    Sir, i wanted to know why Statement (2), is an internal source of information.
    Because we would be collecting this information from customers who are external to the organisation. So shouldn’t it be an external source of information.

    May 6, 2023 at 9:36 am #683975
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54704
    • ☆☆☆☆☆

    Internal data is data that has been collected specially for our purpose.

    External data is data we have got from elsewhere that was not collected specially for our purpose.

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