Accounting Roles in the Company and Importance of Accounting Essay

Accounting is an information and the measurement that arrangement identifies, records and communicates information about an organization communication channel activities. In business we used method of accounting in in all the aspects. The most common contact through accounting is through credit approvals, checking accounts, and payrolls. In a secular term accounting is a language of business because all the organization set up an accounting information in order to communicate information to help people to take decision..There argon 2 kinds of decision makers 1) External Users and Internal UsersExternal users They are not directly involved in running the business. So, they will have a very limited access to an organization details. Still their business decisions depend on the information that is reliable, comparable and relevant. . External users include people like Lenders, Government shareholders, outside(a) auditors and regulators..Example External auditors use financial stat ements to verify that they are properly prepared according to GAAP.2) Lenders would front into the information whether an organization will repay its loan and interest.3) Customers use financial statement to check the precedent of the suppliers.See more Homeless satire essayInternal Users They are directly involved in managing and operating an organization they will help in improving the efficiency of the business. They include managers, officers(employees), internal auditors, and sales staff .Example Managers would look into the information about the project cost and revenues in order to makes changes in products and services.Both Internal and external users rely on internal controls in order to control, monitor ships company activites.