BUSI 1101 Chapter Notes - Chapter 1: Standard Accounting Practice, Financial Statement, Regional Policy Of The European Union
15 Mar 2018
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Unit 1: the purpose and use of financial statements. Learning objective 1: identify the uses and users of accounting information. Accounting is the information system that identifies and records the economic events of an organization, and then communicates them to a wide variety of interested users. World"s economic system depend on highly transparent, reliable & accurate financial reports. Accounting has been labelled the language of business: one of the reasons many people study accounting, working knowledge of accounting will be relevant and useful in whatever role you assume as a user of accounting information. Users of accounting information can be divided broadly into two types: internal users, external users. Have access to internal accounting information to help them make the decisions required to run the company. Include company officers (senior management), as well as managers and directors in finance, marketing, human resources, production, and other functional areas within the company.
