Users of accounting information

Need to know

What you need to know

• Stakeholders are any individuals or groups with an interest in a business's performance.
• Users are categorised as internal (within the business) and external (outside the business).
• Accounting information, primarily through financial statements, facilitates informed decision-making.
• Different users have different information needs based on their relationship with the business.

Explanation

Users of accounting information

1. Stakeholders are any individuals or groups with an interest in a business's performance.
2. Users are categorised as internal (within the business) and external (outside the business).
3. Accounting information, primarily through financial statements, facilitates informed decision-making.
4. Different users have different information needs based on their relationship with the business.