Question

In what way. Accounting is useful to the
internal users of Accounting
Information.​

Answer 1

Answer:

At first record the financial transactions by journal entry system.

Explanation:

Its help to declaring end of year the profits and loses , position of business, financial condition of business and how many assets are present in business.

Answer 2

Answer:

Accounting information of a business enterprise is used by many stakeholders. Different parties use this information for different purposes depending on their needs. Therefore, the accounting information system of a business enterprise must be designed in a way that it should generate the reports to satisfy the information needs of every interested party.

We can broadly divide the users of accounting information into two groups – internal users and external users. Internal users include managers and owners of the business whereas external users include investors, creditors of funds, suppliers of goods, government agencies, general public, customers and employees.

Internal users

Internal users use a mix of management and financial accounting information. Some internal users of accounting information and their