Name some users of accounting information.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

5 POINTS

Given the solution and accounting question

Dora Manufacturing reported the following data for the current period: The actual cost of direct labor per hour is $29.50. The standard cost of direct labor per hour is $26.00.The direct labor hours allowed per finished unit is 1.10 hours. During the current period, 5,800 units of finished goods were produced using 6,100 direct labor hours. How much is the direct labor rate variance?

Answer 2

Question

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Answer 6

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Answer 7

Chapter 1, Problem 1DQ

To determine

Name some users of accounting information.

Answer 8

Expert Solution & Answer

Explanation of Solution

Users of accounting information: People who rely on accounting information to make best decisions or choices from the information are known as users of accounting information.

Users of accounting information are as classified as below:

Internal users of accounting information: Internal users of accounting information depend on the information, to check to what extent the business has achieved its goals, any other measures to be taken to achieve the goals, and progress further. The internal users are company’s managers and employees. These are the users working for the company.
External users of accounting information: External users of accounting information depend on the information to check the progress and profitability of the business, assess the ability of the company to repay the liabilities, measure income of the company, and evaluate the return of the company for the investment. The external users are customers, creditors, taxing authorities, and investors. These are the users who do not work for the company.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Conclusion

Hence, some of the users of accounting information are employees, managers, customers, investors, creditors, and government (tax authorities).

Answer 12

Ch. 1 - Prob. 1DQ Ch. 1 - Prob. 2DQ Ch. 1 - Prob. 3DQ Ch. 1 - Josh Reilly is the owner of Dispatch Delivery...Ch. 1 - On July 12, Reliable Repair Service extended an...Ch. 1 - Prob. 6DQ Ch. 1 - Describe the difference between an account...Ch. 1 - A business had revenues of 679,000 and operating...Ch. 1 - A business had revenues of 640,000 and operating...Ch. 1 - The financial statements are interrelated. (a)...

Name some users of accounting information.

Name some users of accounting information.

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions