of accounting principles
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.
Financial accounting
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.
external aiditor,shareholder,goverment etc
internal users
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
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
Yes
Accounting exists to report financial numbers of a business to external users like creditors, shareholders, and suppliers.
Accounting is a language of business because it communicates all the financials information about working of business to external users.
Internal users would be managers so that they can make decisions about how to manage and also see how effectively they have managed. External users would be potential investors, the Government, lenders, the public, unions...
The most important of the accounting is to comply with generally accepted accounting principles and standards and norms that conducted by accounting organizations. Accounting must have qualities characteristics. With these characteristics, it will be useful to users. Example for characteristics: relevance, reliability and comparability