1. Owners
The owners provide funds or capital for the organization. They possess curiosity in knowing whether the business is being conducted on sounds lines or not and whether the capital is being employed properly or not. Owners, being businessmen always keep an eye on the returns from the investment. Comparing the account of various years helps in getting good pieces of information.
2.management
The management of the business is greatly interested in knowing the position of the firm. The accounts are basis, the management can study the merits and demerits of the business activity, this, the management is interested in financial accounting to find whether the carried on is profitable or not. The financial accounting is the eyes and ears of management and facilitates in drawing future course of action, further expansion etc.
3. Creditors
Creditors are the persons who supply goods on credit or bankers or lenders of money. It is usual that these groups are interested to know the financial soundness before granting credit. The progress of view of security and further credit. Profit and loss account and balance sheet are nerve centres to know the soundness of the firm.
4. Employees
Payment of bound depends upon the size of profit earned by the firm. The more important point is that the workers expect regular income for the bread. The demand for wage rise, bonus, better working conditions etc. Depend upon the profitability of the firm and in turn depends upon financial position. For these reasons, this group is interested in accounting.
5. Investors
The prospective investors, who want to invest their money in a firm, of course wish to see the progress and prosperity of the firm, before investing their amount, by going through the financial statement of the firm. This is to safeguard the investment. For this, this group is eager to go through the accounting of taxation. To complied national accounting is essential.
6. Consumers
These groups are interested in getting the goods at reduced price. Therefore they wish to know the establishment of a proper accounting control, which in turn will reduce to cost of production, in turn less price to be paid by the consumers. Researchers are also interested in accounting for interpretation.
7. Government
Government keeps a close watch on the firms which yield good amount of profits. The state and central government as e interested in the financial statement to know the earnings for the purpose of taxation. To compile national accounting is essential.
The owners provide funds or capital for the organization. They possess curiosity in knowing whether the business is being conducted on sounds lines or not and whether the capital is being employed properly or not. Owners, being businessmen always keep an eye on the returns from the investment. Comparing the account of various years helps in getting good pieces of information.
2.management
The management of the business is greatly interested in knowing the position of the firm. The accounts are basis, the management can study the merits and demerits of the business activity, this, the management is interested in financial accounting to find whether the carried on is profitable or not. The financial accounting is the eyes and ears of management and facilitates in drawing future course of action, further expansion etc.
3. Creditors
Creditors are the persons who supply goods on credit or bankers or lenders of money. It is usual that these groups are interested to know the financial soundness before granting credit. The progress of view of security and further credit. Profit and loss account and balance sheet are nerve centres to know the soundness of the firm.
4. Employees
Payment of bound depends upon the size of profit earned by the firm. The more important point is that the workers expect regular income for the bread. The demand for wage rise, bonus, better working conditions etc. Depend upon the profitability of the firm and in turn depends upon financial position. For these reasons, this group is interested in accounting.
5. Investors
The prospective investors, who want to invest their money in a firm, of course wish to see the progress and prosperity of the firm, before investing their amount, by going through the financial statement of the firm. This is to safeguard the investment. For this, this group is eager to go through the accounting of taxation. To complied national accounting is essential.
6. Consumers
These groups are interested in getting the goods at reduced price. Therefore they wish to know the establishment of a proper accounting control, which in turn will reduce to cost of production, in turn less price to be paid by the consumers. Researchers are also interested in accounting for interpretation.
7. Government
Government keeps a close watch on the firms which yield good amount of profits. The state and central government as e interested in the financial statement to know the earnings for the purpose of taxation. To compile national accounting is essential.
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