what is marketing? and what is basic factions?
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.
Accounting
Accounting has a great value in information age. It is a system that identifies, records and deliver financial information that is relevant, reliable and comparable in order to help users to make better and accurate decisions.
Studies which address issues related to the systems and the users of systems that collect, store, and generate accounting information. Users are defined broadly to include those involved in collection, storage, or use of accounting information or even the implementation of the system. These systems may be electronic or not. Research streams include, but are not limited to design science, ontological investigations, expert systems, decision aides, support systems, processing assurance, security, controls, system usability, and system performance.
internal users are those who identify the raw material for producing a useful product because internal customers are people who provide service to the external customers.
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.
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.
creditors
Management
Managers
It depends whether or not you differentiate between 'users' and 'preparers' of accounting information.Normally accountants are the preparers of accounting information. The users are people that use the information (for investment decisions, evaluating management effort). The main group of users of accounting information for listed companies are investors.Stating that accountants are the primary users of accounting information is similar to stating that bakers eat most of their bread.
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
Yes
External users are not directly involved in the running of the business, they include shareholders, lenders, customers, suppliers, regulators, lawyers, brokers and the press. Yet these users can affect and be affected by the organization. External users rely on accounting information to make better decisions in pursuing their goals for the organization.Internal Users of accounting information are those individuals directly involved in managing and operating an organization. They include managers, officers, and other important internal decision makers. Internal users make the strategic and operational decisions for the business or organization. The internal role of accounting is to provide information to help improve the efficiency or effectiveness of an organization in delivering products or services to the marketplace.
manager owners
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
internal users