Who are the parties interested in accounting information class 11?

Internal users: Owners, Management and Employees. External users: Creditors, Investors, Customers, Tax authorities, Government, Researchers and General Public.

Who are interested in accounting information?

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.

Who are the interested parties in accounting?

Creditors: They are the suppliers of the raw materials and other necessary items on credit to the company. They are interested to know the liquidity position of the company. 4. Commercial Banks and Financial Institutions: Both commercial banks and financial institutions may lend both short term loan and long term loan.

Why parties are interested in accounting?

They want to know whether their funds are being properly used or not. They need accounting information to know the profitability and the financial position of the concern in which they have invested their funds.

Who are interested in financial statements?

The main users (stakeholders) of financial statements are commonly grouped as follows: Investors and potential investors are interested in their potential profits and the security of their investment. Future profits may be estimated from the target company’s past performance as shown in the income statement.