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Who is the internal user and who is the external user in accounting?
Wiki User
∙ 8y ago
Internal users include various interest parties:
Management
Employees (including Trade Unions)
External users include various interested parties:
investors
Government
Customers
Suppliers
Lenders
Competitors
The Public
Special Interest Groups (eg an Environmental group)
External auditors check the veracity of the published accounts for the business
Wiki User
∙ 8y ago
Wiki User
∙ 16y agoInternally, accounting reports are used by all Dept. Managers and upper management to evaluate their financial performance and make future plans. Externally, accounting reports are used by investors to make investment decisions.
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Internal and external accounting information?
internal = inside business external = outside business
Is employee an external user of accounting information?
External ueser
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.
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.
The main users of accounting information?
This are in two groups, external users and internal users. External come from outside the business while internal are from inside the business. Examples of external are insurers, suppliers, customers, government tax auditors, etc while internal accounting users are within the business, thus shareholders, owners of the business
Is a vice president an internal or external user of Accounting?
internal users
Internal and external accounting information?
internal = inside business external = outside business
Is employee an external user of accounting information?
External ueser
The accounting process is concerned with internal and external transactions representing economic events?
The accounting process is concerned with both: internal and external transactions representing economic events.
Internal and External Reporting Requirements?
differentiate between financial Accounting and management 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.
Who is an internal user of financial statements?
Accounting information is presented to internal users in the form of management accounts, budgets, forecasts andÊfinancial statements. External users are communicated accounting information in the form of financial statements. These users are creditors, tax authorities, investors, etc..
Is Managerial accounting information used by external and internal users equally?
Yes
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.
The main users of accounting information?
This are in two groups, external users and internal users. External come from outside the business while internal are from inside the business. Examples of external are insurers, suppliers, customers, government tax auditors, etc while internal accounting users are within the business, thus shareholders, owners of the business
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.
Function of accounting?
Accounting helps the business create reports for both internal and external shareholders. Accounting also helps a business understand their financial position within the industry.
