The users of Accounting Information Flashcards
1
Q
What is an Internal user?
A
The internal users of accounting information are business managers, sole proprietors and partners in a business
2
Q
What is an external user?
A
The external users of a business may include: shareholders, potential investors, creditors and employees
3
Q
What is management accounting?
A
The preparation of accounting reports f users hat is for internal that is for people who operate a business
4
Q
what do management accounting information include?
A
cost of manufacturing a product
break even point of a product
expected cash at bank
5
Q
what is Financial accounting
A
financial accounting is the preparation of accounting such as a balance sheet, for external users
