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What groups uses accounting information primarily to help protect the public?
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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.
What is meant by the concept of neutrality in accounting?
financial statements are not prepared in a way to favor groups of users (managements, owners, creditors ect) over other groups. the information is prepared to be helpful to all
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
What college courses will help me to become an accountant?
The major course groups seem to be Accounting, which focuses on transaction and statement analysis, Auditing, which shows students how to audit company books, and courses on tax accounting.
What is the definition of management accounting given by IFAC?
the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control an organization and to assure appropriate use of and accountability for its resources. Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies, and tax authorities
Which groups use accounting information primarily to insure the entity is operating within prescribed rules?
Auditors use accounting information to ensure that a business is operating as it should. Many auditors working with the Securities Exchange Commission have the ability to fine companies that are not complying.
List three groups that use accounting information and briefly explain why each has an interest in this information?
how to explain an accounting system used for our company to auditor
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.
What is one way consumer-advocacy groups help protect consumers?
by providing product information
What is the one way that consumer-advocacy groups help protect consumers?
By providing product information
What is meant by the concept of neutrality in accounting?
financial statements are not prepared in a way to favor groups of users (managements, owners, creditors ect) over other groups. the information is prepared to be helpful to all
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.
What is the basic function of accounting code views?
To determine which groups can reallocate transactions to which accounting code segments
What is one way that consumer-advocacy groups help protect consumers?
by providing product information
What Christian groups are there in Ireland?
Primarily Catholics and Protestants
Which management groups are responsible for implementing information security to protect the organization's ability to function?
Both general management and IT management are responsible for implementing information security that protects the organization's ability to function.
What two groups are the primary focus in market research?
The two groups that are primarily focus in market research are the following:Groups of potential customers are brought together to discuss their feelings about a product or market.Focus groups are a good way of getting detailed information about customer tastes and preferencesBY: SIDNEY POMASIN
