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accounting basics tutorial

Educational content Elevatemindset452 #elevatemindset #reaction #views #education #finance #money #share #accounting #subscribe primary users of accounting information: 1. Management:    - Internal Decision-Makers: Managers and executives use accounting information to make strategic decisions. Financial reports help in planning, budgeting, and evaluating the performance of the company. Management accounting provides internal reports for decision-making. 2. Shareholders/Investors:    - External Decision-Makers: Investors and shareholders are interested in the financial health and performance of the company. They use financial statements to assess the company's profitability, financial stability, and growth potential.    • accounting basics tutorial   3. Creditors/Banks:    - External Parties Providing Credit: Creditors and banks use accounting information, especially financial statements, to assess a company's creditworthiness before extending loans or credit facilities. 4. Government Agencies:    - Regulatory Compliance: Government entities use accounting information to ensure compliance with tax regulations, financial reporting standards, and other legal requirements. 5. Suppliers:    - External Parties Providing Goods/Services: Suppliers may assess a company's financial stability before entering into contracts or credit agreements. They use accounting information to gauge the company's ability to pay for goods or services.