Users of accounting information can be identified as internal and external users. List two of users in each category and the type of information they require.

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: Describe the basic accounting information system.

A: Definition:   Accounting information system: An accounting information system is a system that is…

Q: Which function do accounting information systems provide in current accounting procedures

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: Answer the following: Question One: State the accounting equation and define its components with…

A: Accounting refers to the process of recording, processing and eventual communication of financial…

Q: two methods of acquiring accounting information sysytem, and list there disdvantages and advantages

A: Accounting information systems is a system of collection, processing and storage of accounting and…

Q: to be useful, accounting information should be presented using

A: The company will record each and every day to day transactions happened during the operations of the…

Q: Accounting plays an important role by providing answers to questions faced by the users of…

A: Accounting is the process of recording of transactions, summarising it and posting it to obtain…

Q: What are the five elements/components of Accounting Information System? Describe each

A: An accounting information system or framework (AIS) is a design that a business uses to gather,…

Q: When is the general journal used in a manual accounting information system? Provide some examples of…

A: Accounting information system collects, records, stores and processes accounting data to produce…

Q: users of accounting information

A: The financial information is presented in the financial statement of the company that reflect the…

Q: There are various users of accounting information. Identify any three and explain how they benefit…

A: The accounting information is crucial for businesses because it helps in the determination of the…

Q: Explain what it means to manage, define accounting, and discuss the nature and purpose of…

A: Introduction: Accounting is concerned mainly with recognizing, documenting, measuring, and…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: xplain the accounting process in det

A: Answer: Accounting process is the process which involves maintaining books of accounts and record…

Q: differentiate internal user from external user of accounting information

A: Accounting is the detailed process of recording, classifying, summarising and reporting accounting…

Q: How does accounting provide important data to a. Internal users b. External users

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: In each case, identify and then explain the main accounting concepts being highlighted and indicate…

A: Accounting concepts are based on accounting assumptions and condition which paves the base for…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: List the chart of account numbers and major categories used in DPSystems’accounting system.

A: The chart of the account numbers and major categories used in DP accounting system are given below…

Q: What is accounting information system and what is its components and explain.

A: All the transactions in the company will be recorded in the journal book in a chronological manner.…

Q: State two users of accounting information and what type of information they need.

A: There are various users of accounting information.

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

Q: write an essay about accounting information system

A: Introduction:- Accounting information system used to collect and store all information related to…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal Users: The internal users are the users of the information who are within the…

Q: Each external transaction will have a dual effect on the accounting equation. Explain what this…

A:

Q: Describe about the external and internal events of the accounting.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. The…

Q: Explain the three basic components of an accounting information system?

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: State the various essential features of an accounting report.

A: Step 1 The report refers to the summary of the information which caters to a particular need. It is…

Q: Define accounting and describe the different uses of accounting information

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Briefly describe the two fundamental qualities of useful accounting information.

A: Accounting information is data about a business entity’s transactions. From buying inventory and…

Q: Identify four kinds of external users and describe how they use accounting information.

A: External users of accounting information are those users which are from outside the organization and…

Q: Briefly explain the importance of independence of the accounting function in Accounting Information…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Describe the flow of accounting information from the business transaction to the ledger.

A: The accounting process includes identifying, recording and classifying the business transactions.

Q: Describe the major constraint inherent in the presentation of accounting information.

A: Accounting information:   Accounting information refers to that information which is concluded from…

Q: The users of accounting information can be classified into internal and external users. Clearly…

A: Accounting information is the information related to the concepts of accounting which are to be used…

Q: Choose one topic from accounting and write a report on it.

A: Accounting is that the method of recording money transactions concerning the business. The…

Q: explain the fundamental qualities of accounting information

A: Accounting data would be supplied into an accounting information system, which processes data using…