College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 1, Problem 1SEB
PURPOSE OF ACCOUNTING Describe the kind of information needed by the users listed.
Owners (present and future)
Managers
Creditors (present and future)
Government agencies
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PURPOSE OF ACCOUNTING Describe the kind of information needed by the users listed.Owners (present and future)ManagersCreditors (present and future)Government agencies
External users of accounting information would include ........ .
which internal users need the accounting information
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College Accounting, Chapters 1-27
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- Define each of these users of accounting information as an internal user of external user Management Employees Investors Creditors Customers Tax authoritiesarrow_forwardDiscuss what information would be most useful for these users of accounting information: Management Employees Investors Creditors Customers Tax authoritiesarrow_forwardWhich area of accounting needs a computerized accounting information system the most—payroll, tax, or preparing financial statements?arrow_forward
- The accounting process generates financial reports forboth internal and external users. Describe some of the specific groups of internal and external usersarrow_forwardIdentify the following users of accounting information as either an (a) external or (b) internal user. Regulatorarrow_forwardHow the external will use the accounting information to do decisionsarrow_forward
- How can financial statement users assess the quality of accounting Information?arrow_forwardThe principles and objectives that guide the creation of accounting information under accrual accounting are called?arrow_forwardIn addition to financial statements, what are some other ways to disclose financial information to external users?arrow_forward
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