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Users of accounting information images. Internal users may consist of owners and management. Download all photos and use them even for commercial projects. Accounting is the language of business it brings life to the otherwise lifeless business activities. 1 2 identify users of accounting information and how they apply information.
That is users of accounting information may be grouped into two classes viz internal users and. Owners are the persons who contribute capital in the business and ultimately responsible to bear all risk associated with the business. Users of accounting information may be inside or outside a business. The accounting information provides information that is necessary for making changes to the existing laws at the right moment for the economy and society betterment.
1 1 explain the importance of accounting and distinguish between financial and managerial accounting. 1 4 explain why accounting is important to business stakeholders. Find the best free stock images about accounting. Users of accounting information.
According to slawin and reynolds conceptually accounting is the discipline that provides information on which external and internal users of the information may base decisions that result in the allocation of economic resources in society. They are interested in the profitability and solvency of the business. It acts as a bridge between users of the information and the day to day transactions that occur inside a business. 1 3 describe typical accounting activities and the role accountants play in identifying recording and reporting financial activities.
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