Users of accounting
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Transcript of Users of accounting
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Smoking is Injurious to Health
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Drinking is Injurious to Health
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AARKEY CREATIVE WORKS
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USERS OF ACCOUNTING
By RAMA KRISHNA. A
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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.
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Definition of Accounting
“It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information.”
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Internal users
• Management
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Employees
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Owners / shareholders
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External users
• customers
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Banks and Financial Institutions
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Suppliers
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Creditors/ Money lenders
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Investors
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Tax Authorities
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Government
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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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