For external reporting purposes, the following tasks are performed:
Manage accounts receivables (A): This involves recording and tracking amounts due from customers for goods or services sold, an essential part of financial reporting to external stakeholders.
Create a profit and loss statement (C): This financial statement summarizes the revenues, costs, and expenses incurred during a specific period, providing a clear view of the company's financial performance to external entities such as investors, regulators, and analysts.
Calculate production variances (B) is more related to internal management accounting and controlling, aimed at analyzing the efficiency and effectiveness of production processes.
Create cost center plan/actual statements (D) is also an internal controlling activity, focusing on monitoring and managing the performance of different organizational units rather than external reporting.