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Why do the internal and external user need accounting information?
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Who is the user of accounting information?
The users of accounting information are divided into two categories:- 1) internal users 2) External users 1. INTERNAL USERS These are the management and employees' of the organisation. - Management/managers need accounting information to assist them in making different decision concerning the business. eg. changing the product line, increasing production or sales of a certain product, expanding its operation or reducing its coverage etc. - Employees need accounting information in order to know their productivity, whether their earnings will be increased in the future, whether the business is able to pay their wages/salaries etc. 2. External Users These are the users apart from those within the organisation who need accounting information so as to make their own decision in relation to the bosiness/organisation. example of those external users are customer, suppliers, bankers of the business, competitors, tax authorities, investors, the government etc. Some the external users and their information needs are:- - Customers need information such as whether the business will continue to lender them services or not, and the ability of the business to meet their orders at the specified time. - supplier need accounting information so as to know whether the business will be able to pay their debts for the goods or services sold or lendered to it , and the time the business will take to pay its debt. - Investors need the accounting information so as to decide whether they should invest with the business, whether withdrowing their investments and or increase their investment in the business. - tax authorities need accounting information so as to predict/calculate how much will be received from the business as tax, or to increase or decrease tax payable by the business.
Why do users of accounting information need accounting information?
External users of accounting information (especially investors) use accounting information like annual and quarterly reports to base their investing decisions on, and to compare different companies with one another.Internal users of accounting (mostly managers) use internal accounting information in order to plan for the future.Therefore accounting information is not only vital to the one's individual business or investments but is also of great benefit to the wider society and the world at large. In addition to which this will allow each country to organize their funds in a more systematic approach as such making room for development of one's country and the upward social mobility of the people of that specifis country. In all simplicity, accounting information prepares us for the future.
Why does stakeholders need accounting information?
types of stakeholder and there accounting information needs
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.
How does accounting information helps research scholars?
They need accounting information to make a study and assess how accounting information affect business organisation.
Who is the user of accounting information?
The users of accounting information are divided into two categories:- 1) internal users 2) External users 1. INTERNAL USERS These are the management and employees' of the organisation. - Management/managers need accounting information to assist them in making different decision concerning the business. eg. changing the product line, increasing production or sales of a certain product, expanding its operation or reducing its coverage etc. - Employees need accounting information in order to know their productivity, whether their earnings will be increased in the future, whether the business is able to pay their wages/salaries etc. 2. External Users These are the users apart from those within the organisation who need accounting information so as to make their own decision in relation to the bosiness/organisation. example of those external users are customer, suppliers, bankers of the business, competitors, tax authorities, investors, the government etc. Some the external users and their information needs are:- - Customers need information such as whether the business will continue to lender them services or not, and the ability of the business to meet their orders at the specified time. - supplier need accounting information so as to know whether the business will be able to pay their debts for the goods or services sold or lendered to it , and the time the business will take to pay its debt. - Investors need the accounting information so as to decide whether they should invest with the business, whether withdrowing their investments and or increase their investment in the business. - tax authorities need accounting information so as to predict/calculate how much will be received from the business as tax, or to increase or decrease tax payable by the business.
Why do users of accounting information need accounting information?
External users of accounting information (especially investors) use accounting information like annual and quarterly reports to base their investing decisions on, and to compare different companies with one another.Internal users of accounting (mostly managers) use internal accounting information in order to plan for the future.Therefore accounting information is not only vital to the one's individual business or investments but is also of great benefit to the wider society and the world at large. In addition to which this will allow each country to organize their funds in a more systematic approach as such making room for development of one's country and the upward social mobility of the people of that specifis country. In all simplicity, accounting information prepares us for the future.
Why does stakeholders need accounting information?
types of stakeholder and there accounting information needs
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.
How does accounting information helps research scholars?
They need accounting information to make a study and assess how accounting information affect business organisation.
Why do investors need accounting information?
Investors need the accounting information to see that how company is performing to decide whether to invest or not in company.
What are the differences between external and internal users of information and their needs and demands on an information system?
External users demand information from the organisation inorder to make investment decisions.If the organisation is doing well it attracts more investors thus increasing the wealth of an organisation.
Why do accounting analysts need accounting information?
To perform Financial Analysis on companies
Disadvantages of an integrated accounting system?
The main disadvantage of integrated accounts is that a single system is used to provide information both for external and internal reporting requirements. The need to provide information for statutory purposes may influence the quality of information which can be made available for management purposes. For example, it may be more useful for management purposes to have inventory valued on a LIFO basis. However, this would not be acceptable for external reporting purposes and the latter requirement may prevail to the detriment of management information
How do you replace the fuel filter in a 2000 Toyota Corolla?
It would depend on if this is an internal or external fuel filter. If it is an internal, you need to drop the fuel tank to do this. If it is external, all you would need to do is unbolt it.
Why do entrepreneur need accounting information?
Entrepreneurs need to have accounting and financial information to determine the feasibility of their business. It is also important to know if what you are doing is profitable .
Internal threads on lathe?
You need an internal thread chaser to do it. They come in a set with the external thread chaser.
