Accounting users need accounting information in order to give them the true state of their financial transaction and records.
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.
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.
types of stakeholder and there accounting information needs
They need accounting information to make a study and assess how accounting information affect business organisation.
Investors need the accounting information to see that how company is performing to decide whether to invest or not in company.
yes
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.
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.
types of stakeholder and there accounting information needs
They need accounting information to make a study and assess how accounting information affect business organisation.
Investors need the accounting information to see that how company is performing to decide whether to invest or not in company.
Mobile users can get every information by using mobile. In this era of technology there is no need of keeping yourself unaware from the happenings of the world.
To perform Financial Analysis on companies
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 .
shareholders,creditors,suppliers,managers,investors,public and customers need accounting information for?
There are various importance of accounting information to a business entity. Getting to know what an accounting information is and the importance (need) of it is a great step to improving one's capital base, both from the finance aspect to the resources (raw materials) an organisation uses in carrying out its objectives. An accounting information is simply the data which an organisation/business entity is able to make known to its users. It should be taken note that these users of accounting are of various sections - to which a business entity is one of. A business entity will require an accounting information so as to enable it manage and control its finances and resources. It also needs it for it to be able to improve on its level of profit earning, should it realises it is declining in its profitability level. It also needs to for it know the differences between its marginal liability and its marginal assets. There are so many importance of a business information to a business enterprise, but the little I've been able to highlight above are some of the vital needs of an organisation's need of an accounting information. Thank you.
employees need accounting information to analyze the profit so as to determine their part of bonus and further identify the health of the corporation where they work.