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Who are the direct users of information in accounting?
the shareholders or the owner of the business are the direct users of the account
Which of the following is the most appropriate and modern definition of accounting?
The information system that identifies, records, and communicates the economic events of an organization to interested users.
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
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.
Difference between external users and internal users of accounting information?
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.
Who are the direct and indirect users of accounting?
Direct users of accounting are the company's management and employees who use financial statements for decision-making. Indirect users are external parties like investors, creditors, and government agencies who rely on financial reports for evaluating the company's performance and financial health. So, in a nutshell, everyone and their grandma are peeking at those numbers to see if the company is worth its salt.
Who are the direct users of information in accounting?
the shareholders or the owner of the business are the direct users of the account
Who are the direct and indirect users of telecommunication?
Whoever uses a telephone.
Which of the following is the most appropriate and modern definition of accounting?
The information system that identifies, records, and communicates the economic events of an organization to interested users.
What are the internal users of accounting users?
manager owners
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
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 it benefit external users in accounting principles?
of accounting principles
Difference between external users and internal users of accounting information?
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.
List and explain users of accounting information?
Following are users of accounting information:bankgovernment institutionscreditorsinvestorsgeneral publicshare holders etc
Who are the major users of accounting?
The GAO : Government Accounting Office for one ,
Two common areas of accounting that respectively provide information to internal and external users are?
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
