Question

Name the internal users of accounting? How accounting equation is required to them. ​

Answer 1

Answer:

Examples of internal users are owners, managers, and employees. External users are people outside the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities.

The accounting equation shows on a company's balance that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity. Assets represent the valuable resources controlled by the company. The liabilities represent their obligations.