{"id":2692,"date":"2019-11-17T15:35:30","date_gmt":"2019-11-17T15:35:30","guid":{"rendered":"https:\/\/commerceiets.com\/?p=2692"},"modified":"2019-11-17T15:35:30","modified_gmt":"2019-11-17T15:35:30","slug":"users-of-accounting","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/users-of-accounting\/","title":{"rendered":"USERS OF ACCOUNTING"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/users-of-accounting\/#USERS_OF_ACCOUNTING\" title=\"USERS OF ACCOUNTING\">USERS OF ACCOUNTING<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/users-of-accounting\/#INTERNAL_USERS\" title=\"INTERNAL USERS\">INTERNAL USERS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/users-of-accounting\/#EXTERNAL_USERS\" title=\"EXTERNAL USERS\">EXTERNAL USERS<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"USERS_OF_ACCOUNTING\"><\/span><strong>USERS OF ACCOUNTING<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/commerceiets.com\/accounting\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Accounting (opens in a new tab)\">Accounting<\/a> provides the information to the users of the business. Various users are interested&nbsp; to know about the financial position of the business, which they get from the accounting records kept by the business and provided to them by way of publishing final accounts. <\/p>\n\n\n\n<p class=\"has-medium-font-size\">The users of accounting are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"720\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/11\/Slide2-1.jpg\" alt=\"users of accounting\" class=\"wp-image-2696\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/11\/Slide2-1.jpg 960w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/11\/Slide2-1-300x225.jpg 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/11\/Slide2-1-768x576.jpg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"INTERNAL_USERS\"><\/span>INTERNAL USERS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-medium-font-size\">Internal users are the users who work in the organization and\nhave direct interest in the working of the company. The various internal users\nare as follows:<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>OWNERS\/ SHAREHOLDERS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Shareholder or the Owners are the persons who have invested\ntheir money in the business. These persons are interested in knowing the\naccounting information for following purposes:<\/p>\n\n\n\n<ul><li>To keep an eye on the financial health of the\nbusiness.<\/li><li>To ensure the return on their funds invested.<\/li><li>To ensure the optimum utilization of the funds.<\/li><li>To determine the exposure of risk to the funds\ninvested by them.<\/li><li>To determine the profit earning capacity of the\nbusiness.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>MANAGEMENT<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">There are three levels of management: Top, Middle and Low level\nof management. This is the most active user of the accounting information.\nManagement needs the accounting information for following purposes:<\/p>\n\n\n\n<ul><li>Selecting out alternative proposals.<\/li><li>Controlling, acquisition and maintenance of\ninventories, cash receipts and payments.<\/li><li>Planning or budgeting for the future.<\/li><li>For checking the profit earning capacity of the business.<\/li><li>To ensure the fair return on the equities\ninvested by the shareholders.<\/li><li>For managing the finances properly.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>EMPLOYEES<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Employees are other internal users of the accounting\ninformation. Employees are the persons who work in the organization in\nconsideration of salaries and wages. The employees need the financial\ninformation due to the following reasons:<\/p>\n\n\n\n<ul><li>To demand the bonus in case company is earning\nsupernormal profits.<\/li><li>To ensure&nbsp;\njob security.<\/li><li>To know better about the company\u2019s financial\nposition.<\/li><\/ul>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"EXTERNAL_USERS\"><\/span>EXTERNAL USERS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-medium-font-size\">External users are not directly associated or work in the organization.\nThey may have direct or indirect interest in the working of the organization. These\nusers are as follows:<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>CREDITORS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Creditors are the lenders of the business. The creditor may\nbe:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Short term Creditors<\/strong> who supplies the raw material or goods to the company or business on credit basis.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Long term creditors that provide funds to the business by subscribing\nthe debentures or bonds of the company or by granting the loans.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The creditors need the financial or accounting information\nof the business for the following reasons:<\/p>\n\n\n\n<ul><li>To know the credit worthiness of the business.<\/li><li>To ensure the repayment of the credit provided.<\/li><li>To assess the risk associated with the credit\nprovided.<\/li><li>T o know the existing debt service capability of\nthe firm.<\/li><li>To know the existing loan amount raised by the\ncompany from other sources.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>INVESTORS\/ POTENTIAL INVESTORS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Investors are the persons who have invested their funds in\nthe business.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">&nbsp;Potential investors\nare the investors who have not invested their funds in the business but are\nplanning to invest in the business. These parties need the accounting\ninformation for varied reasons which are as follows:<\/p>\n\n\n\n<ul><li>To judge the future prospects of earning on\ninvestment.<\/li><li>To decide whether to invest more in the business\nor not.<\/li><li>To make the decision regarding holding the existing\ninvestment or to sell it.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>TAX AUTHORITIES<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Tax authorities include the Income Tax authorities, Goods\nand Service Tax authorities, Custom duty Authorities, Corporate Tax Authorities\netc. These authorities require the accounting information:<\/p>\n\n\n\n<ul><li>To assess the tax liability of the business.<\/li><li>To audit the records and imposing the penalties\nif any default is there.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>CONSUMERS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Consumers are the persons who consume the goods and services\nprovided by the business house. These parties are interested to know the financial\nposition of the business to get an idea about the price structure of the\nproducts manufactured by the companies. Also the consumer protection\nassociations require accounting data to get to know about the social responsibility\ninitiatives taken by the company in favor of the consumers.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>RESEARCHERS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Research scholars make use of the accounting information to\nconduct the various researches. The information regarding various companies is\na mirror of the business environment. Accounting information is needed to\nconduct researches regarding<\/p>\n\n\n\n<ul><li>Capital structure theories<\/li><li>Assets management<\/li><li>Credit rating <\/li><li>Risk management<\/li><li>Social responsibility initiatives etc.<\/li><\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>&nbsp;COMPETITORS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Competitors are the rivals in the same business line. The competitors\nneed the accounting information to draw out the plans that will make them more successful\nthan any other firm in the same business. Competitors make analysis of the\nfinancial position of the other firms to know about the strengths and weaknesses.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>MEDIA<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">The newspapers and various TV channels related to the\neconomics and finance need information for publishing or telecast the\nachievements, performance and problems of companies. Accounting provides such\ninformation to the users. Also, the share of each company in the nation\ndevelopment or GDP can be ascertained on the basis of the accounting\ninformation provided in the accounting records. <\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>REGULATORY AGENCIES<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Regulatory agencies include Chambers of Commerce, various\nauthorities under the various Acts, SEBI, Ministry of Labor, Ministry of\nIndustries, FICCI etc. These agencies require the accounting information to\ncheck whether the company is complying with the legal provisions laid down under\nthe legal and regulatory framework or not. These authorities also make a check on\nthe fraudulent and unlawful sources of income of the business houses.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>GOVERNMENT<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Government\nensures that a company&#8217;s disclosure of accounting information is in accordance\nwith the regulations that are in place to protect the interest of various\nstakeholders who rely on such information in forming their decisions.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Government\ndefines and monitors accounting limits such as sales revenue and net profit to\ndetermine the size of each business for the purpose of ensuring that it\ncomplies with the relevant employee, consumer and safety regulations.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>AUDITORS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">External\nauditors examine the financial statements and the underlying accounting record\nof businesses in order to form an audit opinion.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Investors\nand other stakeholders rely on the independent opinion of external auditors on\nthe accuracy of financial statements.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-background-color has-background has-medium-font-size\"><strong>PUBLIC<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">General public may also be interested in accounting information of a company. These could include journalists, analysts, academics, activists and individuals with an interest in economic developments.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting\/\"><strong>Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\"><strong>Non profit organisation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation\/\"><strong>Depreciation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liquidity-ratios-types\/\"><strong>Liquidity ratios<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/nature-of-accounting\/\"><strong>Nature of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\"><strong>Receipts and Payments Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation-accounting\/\"><strong>Depreciation Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/acid-test-ratio-formula\/\"><strong>Acid Test Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/benefits-of-accounting\/\"><strong>Benefits of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\"><strong>Hire Purchase Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cash-ratio\/\"><strong>Cash Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-cost-accounting-and-financial-accounting\/\"><strong>Difference between cost accounting and financial accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\"><strong>Financial accounting, cost accounting and management accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-hire-purchase-and-instalment\/\"><strong>Difference between hire purchase and instalment system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/financial-ratio-analysis\/\"><strong>Financial ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\"><strong>Difference between transaction and event<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/transactions\/\"><strong>Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\"><strong>Users of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/current-ratio-formula\/\"><strong>Ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/limitations-of-accounting-2\/\"><strong>Limitation of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-expenditure\/\"><strong>Capital Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/instalment-system\/\"><strong>Instalment System<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-consignment-and-sale\/\"><strong>Difference between consignment and sale<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/book-keeping\/\"><strong>Book Keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-expenditure\/\"><strong>Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Reserves Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-normal-and-abnormal-loss\/\"><strong>Abnormal loss vs normal loss in consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accountancy\/\"><strong>Accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-expenditure-and-revenue-expenditure\/\"><strong>Difference between capital and revenue expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Provisions&nbsp;<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\"><strong>Treatment of loss on consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting as science or an art<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-equation\/\"><strong>Accounting Equation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/single-entry-system-in-accounting\/\"><strong>Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-consignment\/\"><strong>Accounting treatment of consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book Keeping vs accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/deferred-revenue-expenditure\/\"><strong>Deferred Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/statement-of-affairs-and-balance-sheet-difference\/\"><strong>Difference between statement of affairs and balance sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-consignment\/\"><strong>Joint venture vs consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book keeping vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-receipt\/\"><strong>Capital receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/ifrs\/\"><strong>IFRS<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/departmental-accounting\/\"><strong>Departmental Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-receipt\/\"><strong>Revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/balance-sheet\/\"><strong>Balance Sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-departmental-accounting\/\"><strong>Methods of departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/basis-of-accounting\/\"><strong>Basis of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-and-revenue-receipt\/\"><strong>Difference between capital and revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/profit-and-loss-account\/\"><strong>Profit and loss Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-of-expenses-in-departmental-accounting\/\"><strong>Allocation of expenses in departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/branches-of-accounting\/\"><strong>Branches of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Difference between accounting concepts and conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/trading-account\/\"><strong>Trading Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-departmental-transfers\/\"><strong>Inter-departmental transfers<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cash-and-mercantile-system-of-accounting\/\"><strong>Cash and mercantile system of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-standards\/\"><strong>Accounting Standards<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/voyage-account\/\"><strong>Voyage Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/different-types-of-branches\/\"><strong>Different types of branches<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-principles\/\"><strong>Accounting Principles<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-accounting\/\"><strong>Objectives of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-for-incomplete-voyage\/\"><strong>Accounting for Incomplete Voyage<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-departmental-and-branch-accounting\/\"><strong>Departmental vs Branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/golden-rules-of-accounting\/\"><strong>Golden ru\nles of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-accounting\/\"><strong>Process of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-venture\/\"><strong>Joint venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-branch-accounting\/\"><strong>Methods of branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/double-entry-system-of-accounting\/\"><strong>Double entry system of book keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-partnership\/\"><strong>Joint Venture Vs Partnership<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incorporation-of-branch-trial-balance\/\"><strong>Incorporation of branch trial balance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-double-single-entry-system\/\"><strong>Double entry vs Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Accounting Concepts vs Accounting conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-recording-transactions-in-joint-venture\/\"><strong>Methods of recording transactions in Joint Venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/garner-vs-murray-rule\/\"><strong>Garner VS Murray Rule<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/history-of-accounting-pdf\/\"><strong>History of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-provisions-and-reserves\/\"><strong>Difference between provisions and reserves<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consignment\/\"><strong>Consignment<\/strong><\/a><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>USERS OF ACCOUNTING Accounting provides the information to the users of the business. Various users are interested&nbsp; to know about the financial position of the business, which they get from the accounting records kept by the business and provided to them by way of publishing final accounts. The users of accounting are as follows: INTERNAL&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;USERS OF ACCOUNTING&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":2695,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,11],"tags":[53],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2692"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=2692"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/2695"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=2692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=2692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=2692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}