Question

Name any 5 internal users of accounting​

Answer 1

Answer:

Internal users include managers and other employees who use financial information to confirm past results and help make adjustments for future activities. External users are those outside of the organization who use the financial information to make decisions or to evaluate an entity's performance.

Answer 2

ANSWER :

There are a number abe fertis who are directly or indirectly concerned with the accounting information of an entity.

❖ Five internal users of accounting are as follows :-

• [1] Owner

• [2] Marketing Manager

• [3] Production Supervisor

• [4] Finance Director

• [5] Company Officer

MORE TO KNOW :

❖ Accounting :-

• Acccounting is a man-made activity. It is a systematic exercise carried on for the purpose of recording, summarising and interpreting the result for the users of the information.

• According to R.N. Anthony, "Nearly every business enterprises has accounting system. It is a means of collecting, summarising, analysing and reporting in monetary terms, information about business".

• According to American Institute of Certified Public Accountants, "Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and event which are in part at least of a financial character and interpreting the result thereof".

❖ Functions of Accounting :-

• To keep systematic record of business transactions.

• To ascertain the result of operation.

• To ascertain the financial position of the business.

• To provide information to various parties.