users of accounting
Post on 23-Jan-2017
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Smoking is Injurious to Health
Drinking is Injurious to Health
AARKEY CREATIVE WORKS
USERS OF ACCOUNTING
By RAMA KRISHNA. A
Introduction to Accounting
• Accounting is a systematic procedure to find out the profit or loss earned during a particular year. It is used to know the financial position or status of a business.
Definition of Accounting
“It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information.”
Internal users
• Management
Employees
Owners / shareholders
External users
• customers
Banks and Financial Institutions
Suppliers
Creditors/ Money lenders
Investors
Tax Authorities
Government
Conclusion
• The main purpose of disclosing the accounting books companies are creating awareness about a company’s transactions and the result.
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