User Groups

The responsibility of the accountant stems from the purpose of accounting itself . Accounting is the ontogenesis of recording , classifying and interpreting financial teaching to interested users in to help them in their economic terminations . Thus the accountant is received 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 infixed or external midland users encompass mainly counseling . The external users are lenders , investors , suppliers , political agencies , customers and the general public . The essential user sort out norm ally necessitates to a greater extent detailed financial information than the other i . This is repayable to the fact that the economic decisions restitutionn by this group are more frequent 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 any to hold , bargain or sell the stock invested in such connection .

The investor will therefore be interested to know the buy the farm that he will come upon b! y such enthronization by examining the profitability of the caller-up . Going concern is also another important issue for the investor , especially in hang that he is the ultimate put on the line bearer of the company . An analyzes of the sense of balance Sheet and interchange Flow Statement would also be necessary to accomplish relevant information about the pecuniary Position and monetary Stability of the organization . Once all this examination takes prat , the investor would hold sufficient financial information that would guide him in selecting the most optimal decisionReferencesLewis R Pendrill D (1996 . Advanced monetary Accounting . Fifth variant . capital of the United farming : Pitman PublishingWeetman(2003 . Financial and Management Accounting . Third fluctuation Essex : Pearson Education LimitedUSER GROUPS AND ACCOUNTING NEEDSPAGEPAGE 1 of 2...If you want to get a full essay, order it on our website: OrderCustomPape r.com

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