Users of Accounting Information
Users of Accounting Information:-
There are two categories:-
(1) Internal
Management and owner
(2) External uses or outsiders.
Following
are various uses:-
(1) Investors: They provide capital to business. They need information to assess whether to buy, hold or sell their investment.
(2) Employees:- Growth of employee directly related to growth of organization. So they require much information.
(3) Lenders:- They are interested to know capability of business to repay principal and interest.
(4) Supplier and creditors :- They want to know ability of firm to pay their dues. It is generally done by credit policy of concern.
(5) Customer;- Customers are also interested to know stability and functioning of business.
(6) Government and their agencies :- They are also interested due to various reasons like for allocation of scarce resources among competing enterprises, tax rate, and collection.
(7) Public:- They are also interested in functioning of business since they contribute substantially too many ways.
(8) Management as a whole is also interested in the accounts for various managerial decisions
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#UsersofAccountingInformation
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