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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 1
Identify the following users as either external users (E) or internal users (I).
_________a. Customers
_________b. Suppliers
_________c. Brokers
_________d. Business press
_________e. Managers
_________f. District attorney
_________g. Shareholders
_________h. Lenders
_________l. Sales clerks
_________i. Controllers
_________j. FBI and IRS
_________k. Consumer group
_________a. Customers
_________b. Suppliers
_________c. Brokers
_________d. Business press
_________e. Managers
_________f. District attorney
_________g. Shareholders
_________h. Lenders
_________l. Sales clerks
_________i. Controllers
_________j. FBI and IRS
_________k. Consumer group
Explanation
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Identification of accounting users
Accounting is called the language of business because all organization set up an accounting information system to communicate data to help people make better decisions.
The users of accounting data are largely divided into two groups:
• External users
• Internal users
External users of accounting information are not directly involved in running the organization. External users have limited access to an organization's information.
Following table shows external users of the financial statements:
Internal users of accounting information are those directly involved in managing and operating an organization. They use the information to help improve the efficiency of an organization.
Following table shows internal users of the financial statements:
Accounting is called the language of business because all organization set up an accounting information system to communicate data to help people make better decisions.
The users of accounting data are largely divided into two groups:
• External users
• Internal users
External users of accounting information are not directly involved in running the organization. External users have limited access to an organization's information.
Following table shows external users of the financial statements:
Internal users of accounting information are those directly involved in managing and operating an organization. They use the information to help improve the efficiency of an organization.Following table shows internal users of the financial statements:
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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