Anonymous
Feb 4
Write 15 external users of accounting information and information needed?
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Feb 4
1. Investors: They need financial statements, such as balance sheets and income statements, to assess the financial health and performance of a company before making investment decisions.
2. Creditors: They require financial information to evaluate the creditworthiness of a company and determine whether to extend credit or lend money.
3. Suppliers: They need accounting information to assess the financial stability of a company and determine the credit terms they can offer.
4. Customers: They may require financial information to assess the financial stability and reliability of a company before entering into long-term contracts or making significant purchases.
5. Government agencies: They need accounting information to ensure compliance with tax regulations, monitor financial activities, and assess the economic impact of businesses.
6. Regulatory bodies: They require accounting information to enforce accounting standards and regulations, ensuring transparency and accuracy in financial reporting.
7. Competitors: They may analyze financial statements to gain insights into a company's performance, market position, and strategic direction.
8. Industry analysts: They use accounting information to evaluate the financial performance of companies within a specific industry and provide recommendations to investors.
9. Financial advisors: They rely on accounting information to provide guidance and advice to individuals and businesses on financial planning, investment strategies, and tax planning.
10. Employees: They may require accounting information, such as payroll and benefits statements, to understand their compensation and benefits packages.
11. Trade unions: They may use accounting information to negotiate wages, benefits, and working conditions on behalf of employees.
12. Non-governmental organizations (NGOs): They may analyze accounting information to assess the financial transparency and accountability of companies, especially those involved in social or environmental issues.
13. Research institutions: They use accounting information to conduct academic research, analyze trends, and contribute to the development of accounting theories and practices.
14. Stock exchanges: They require accounting information to ensure compliance with listing requirements and provide investors with accurate and timely financial information.
15. General public: They may access accounting information through public financial statements or reports to gain insights into the financial performance and activities of companies they are interested in or affected by.
2. Creditors: They require financial information to evaluate the creditworthiness of a company and determine whether to extend credit or lend money.
3. Suppliers: They need accounting information to assess the financial stability of a company and determine the credit terms they can offer.
4. Customers: They may require financial information to assess the financial stability and reliability of a company before entering into long-term contracts or making significant purchases.
5. Government agencies: They need accounting information to ensure compliance with tax regulations, monitor financial activities, and assess the economic impact of businesses.
6. Regulatory bodies: They require accounting information to enforce accounting standards and regulations, ensuring transparency and accuracy in financial reporting.
7. Competitors: They may analyze financial statements to gain insights into a company's performance, market position, and strategic direction.
8. Industry analysts: They use accounting information to evaluate the financial performance of companies within a specific industry and provide recommendations to investors.
9. Financial advisors: They rely on accounting information to provide guidance and advice to individuals and businesses on financial planning, investment strategies, and tax planning.
10. Employees: They may require accounting information, such as payroll and benefits statements, to understand their compensation and benefits packages.
11. Trade unions: They may use accounting information to negotiate wages, benefits, and working conditions on behalf of employees.
12. Non-governmental organizations (NGOs): They may analyze accounting information to assess the financial transparency and accountability of companies, especially those involved in social or environmental issues.
13. Research institutions: They use accounting information to conduct academic research, analyze trends, and contribute to the development of accounting theories and practices.
14. Stock exchanges: They require accounting information to ensure compliance with listing requirements and provide investors with accurate and timely financial information.
15. General public: They may access accounting information through public financial statements or reports to gain insights into the financial performance and activities of companies they are interested in or affected by.
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