Asked by Kirstyn Alston on Jul 15, 2024
Verified
Identify each of the following as either internal or external users of accounting information.
Internal Users
Internal users are individuals within an organization, such as management and employees, who use financial information to make decisions about the operations and future direction of the company.
External Users
Individuals or organizations outside of a company who have an interest in the company's financial information, such as investors, creditors, and regulatory bodies.
Accounting Information
The systematic and comprehensive recording of financial transactions pertaining to a business, which is used for analysis, planning, and decision-making.
- Distinguish between the internal and external stakeholders in accounting, and identify the specific reports each group employs.
Verified Answer
Learning Objectives
- Distinguish between the internal and external stakeholders in accounting, and identify the specific reports each group employs.
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