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Understanding the Benefits of Accounting

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Describe financial statements users (internal and external) . Who will benefit the most from accounting?

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Your tutorial is 233 words and describes how external and internal use financial statements and who benefits the most and why.

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Internal accounting users are those that are managing the business and using the financial information to run the business. For instance, they use information on revenues, expenses and profits to decide on which products and customer groups are doing well and which ones may need to be eliminated. They use information about assets and liabilities to decide how much of a line of ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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