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There are two types of users( internal and external):-
List of internal users:-
- employees
- management
- shareholders/owners.
List of external users :-
Those who have economic transactions like
- suppliers
- creditors
- bankers
- financial institutions
Others like:-
- competitors
- government and regulatory agencies
- auditors
- researchers and academicians
- representatives of others interest like brokers ,underwriters etc
- potential shareholders
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Why every users need accounting information?
Accounting users need accounting information in order to give them the true state of their financial transaction and records.
Two common areas of accounting that respectively provide information to internal and external users are?
Internal users with information are managerial accounting is to provide relevant and timely information for managers' and employees' decision-making needs. (private accounting) External users of accounting information include customers, creditors, and the government. These users are not directly involved in managing and operating the business are call financial accounting. Their job is to provide relevant and timely information for decision-making needs of users outside of the business. 1. managerial accounting and financial accounting
Difference between external users and internal users of accounting information?
External Users of accounting information are NOT directly involved in running the organization. Internal Users of accounting information are those individuals directly involved in managing and operating the organization.
Is it true that primary users of accounting information are accountants?
It depends whether or not you differentiate between 'users' and 'preparers' of accounting information.Normally accountants are the preparers of accounting information. The users are people that use the information (for investment decisions, evaluating management effort). The main group of users of accounting information for listed companies are investors.Stating that accountants are the primary users of accounting information is similar to stating that bakers eat most of their bread.
Who are the user of accounting information system?
Following are the users of accounting information systemmanagementemployees etc.
Which type of accounting information is intended to satisfy the needs of external users of accounting information?
Financial accounting
Why every users need accounting information?
Accounting users need accounting information in order to give them the true state of their financial transaction and records.
Two common areas of accounting that respectively provide information to internal and external users are?
Internal users with information are managerial accounting is to provide relevant and timely information for managers' and employees' decision-making needs. (private accounting) External users of accounting information include customers, creditors, and the government. These users are not directly involved in managing and operating the business are call financial accounting. Their job is to provide relevant and timely information for decision-making needs of users outside of the business. 1. managerial accounting and financial accounting
Difference between external users and internal users of accounting information?
External Users of accounting information are NOT directly involved in running the organization. Internal Users of accounting information are those individuals directly involved in managing and operating the organization.
Is it true that primary users of accounting information are accountants?
It depends whether or not you differentiate between 'users' and 'preparers' of accounting information.Normally accountants are the preparers of accounting information. The users are people that use the information (for investment decisions, evaluating management effort). The main group of users of accounting information for listed companies are investors.Stating that accountants are the primary users of accounting information is similar to stating that bakers eat most of their bread.
Why accounting is called the language of business?
Because it communicates financial information, accounting is often called "the language of business." The information that a user of financial information needs depends upon the kinds of of decisions the user makers. The differences in the decisions divide the users of financial information into two broad groups: internal users and external users.
Who are the user of accounting information system?
Following are the users of accounting information systemmanagementemployees etc.
User of accounting information?
these are daily or day to day people dealing with accounting information these includes -the managers -prospective buyer -investors -Business Owners etc.
What group or groups of people are not considered to be the external users of accounting information?
Internal Users of accounting information would not usually be external users. Management, staff, the board, would all be classed as internal users of financial information.
List and explain users of accounting information?
Following are users of accounting information:bankgovernment institutionscreditorsinvestorsgeneral publicshare holders etc
What is The area of accounting aimed at serving the decisions making needs of internal users is?
Managerial accounting
Who are the primary users of financial accounting information?
creditors
