0
The most broadest answer is "investment decision" because any decisions made around accounting information/businesses etc is generally an investment, or the sorts.
You might make a decision to invest in the business - as a potential shareholder.
You might, as a manager, make decisions whether or not an action is viable, or not.
You might make a cost cutting decisions, and pretty much any other business decision - should we change insurers? how is our advertising scheme going? how can we increase productivity? is this worthwhile? how much tax do we have to pay? are we doing things legitimately?
What else can I help you with?
What is an example of an internal user for accounting information?
An example of an internal user of accounting information is a company's management team, including executives and department heads. They utilize financial data to make informed decisions regarding budgeting, resource allocation, and performance evaluation. This information helps them assess the company's financial health and develop strategies for future growth.
Why do the internal and external user need accounting information?
Internal users, such as management and employees, need accounting information to make informed decisions regarding budgeting, performance evaluation, and strategic planning. External users, including investors, creditors, and regulatory agencies, require this information to assess the financial health and stability of the organization, make investment decisions, and ensure compliance with laws and regulations. Overall, accounting information serves as a critical tool for both internal and external stakeholders to understand and evaluate the financial position and performance of a business.
Who are the user of accounting information system?
Following are the users of accounting information systemmanagementemployees etc.
Is employee an external user of accounting information?
External ueser
What is most likely to be a user of information in a managerial accounting setting?
Creditors
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 an example of an internal user for accounting information?
An example of an internal user of accounting information is a company's management team, including executives and department heads. They utilize financial data to make informed decisions regarding budgeting, resource allocation, and performance evaluation. This information helps them assess the company's financial health and develop strategies for future growth.
Why do the internal and external user need accounting information?
Internal users, such as management and employees, need accounting information to make informed decisions regarding budgeting, performance evaluation, and strategic planning. External users, including investors, creditors, and regulatory agencies, require this information to assess the financial health and stability of the organization, make investment decisions, and ensure compliance with laws and regulations. Overall, accounting information serves as a critical tool for both internal and external stakeholders to understand and evaluate the financial position and performance of a business.
Who are the user of accounting information system?
Following are the users of accounting information systemmanagementemployees etc.
Is employee an external user of accounting information?
External ueser
Who are the user of information system?
Following are the users of accounting information systemmanagementemployees etc.
What is most likely to be a user of information in a managerial accounting setting?
Creditors
Why do external user use accounting information?
External users utilize accounting information to make informed decisions regarding their interest in a business. Investors assess a company's financial health and performance to determine potential profitability and risks associated with their investments. Creditors evaluate financial statements to decide on lending terms and to gauge the risk of default. Additionally, regulatory agencies and analysts use this information for compliance and to provide insights into market trends.
What are the advantage of computerized accounting system?
Faster and efficient in processing of information;Automatic generation of accounting documents like invoices, cheques and statement of account;With the larger reductions in the cost of hardware and software and availability of user-friendly accounting software package, it is relatively cheaper like maintaining a manual accounting system;More timely information can be produced;No more manual processing of the data- all automatically been posted to the various ledgers/accounts andMany types of useful reports can be generated for management to make decisions
Who are the user's of accounting information?
The users of accounting information include tax specialists, bookkeepers, and most business owners. Accounting information is also used by the IRS and the federal government.
How are cost accounting and financial accounting similar?
Simple answer: They both provide useful information to users. Thus is the true goal of accounting. Cost accounting users= managers Financial accounting user= shareholders
User of accounting information?
these are daily or day to day people dealing with accounting information these includes -the managers -prospective buyer -investors -Business Owners etc.
