User Groups

The responsibility of the accountant stems from the purpose of accounting itself . Accounting is the process of recording , classifying and interpreting fiscal teaching to kindle users in to help them in their economic terminations . Thus the accountant is creditworthy to prep atomic number 18 the necessary reports on a timely panache , and ensure that they argon comprehendible , relevant and reliableThe users of financial study may be congenital or external midland users encompass mainly anxiety . The external users ar lenders , investors , suppliers , political agencies , customers and the general public . The informal user sort out norm ally necessitates more than detailed financial information than the other i . This is collect to the fact that the economic decisions payoffn by this group are more frequen t Indeed the management accounts , which are the financial reports normally , give to management are such(prenominal) more in detail than the financial statements provided to external users . focal point accounts are as well as prepared every calendar month , firearm financial statements are performed annuallyExternal users would demand information in railway system with the decision they are seeking to take . For instance , the decision usually taken by an investor is to both to hold , bargain or sell the stock invested in such connection .

The investor will therefore be interested to know the buy the far m that he will detect by such enthronizati! on by examining the profitability of the high society . Going concern is also another important douse for the investor , especially in hang that he is the ultimate lay on the line bearer of the company . An analyzes of the sense of balance Sheet and bullion Flow Statement would also be necessary to bind relevant information about the pecuniary Position and financial Stability of the organization . Once all this examination takes govern , the investor would hold sufficient financial information that would guide him in selecting the most optimal decisionReferencesLewis R Pendrill D (1996 . Advanced pecuniary Accounting . Fifth variant . capital of the United soil : Pitman PublishingWeetman(2003 . Financial and Management Accounting . Third reading Essex : Pearson Education LimitedUSER GROUPS AND ACCOUNTING NEEDSPAGEPAGE 1 of 2...If you want to get a full essay, order it on our website: BestEssayCheap.com

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