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Bookkeeping: “ only involves activities of collecting and recording financial data”
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| Page | 6/29 | | Date | 27.06.2021 | | Size | 1.06 Mb. | | #56969 |
| Accounting and finance for managers MBA CH1 Accounting and finance for managers MBA CH1Bookkeeping: “ only involves activities of collecting and recording financial data” USERS OF FINANCIALINFORMATION Internal Users: - Managers who plan, organize and run the business
e.g. production supervisors, marketing - managers, and directors
- Owners of the business
USERS OF FINANCIAL INFORMATION … cont’d External Users: - Resource providers
e.g. investors, employees, creditors - Recipients of goods and services
- Reviewers
e.g. regulatory - agencies, media, governments, trade unions, special interest groups
Accounting policies and explanatory notes - Important additional notes to define statement prepared
e.g. accounting policies - Any additional information that is not shown in the financial statement will effect the fairly presentation
Definition: FRS 101
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