Accounting Roles in the Company and Importance of Accounting Essay

Accounting is an data and the measurement that system identifies, records and communicates information about an organization business activities. In business we used method of method of report in all the aspects. The most common contact through accounting is through credit approvals, checking accounts, and payrolls. In a layman term accounting is a language of business because all the organization set up an accounting information in order to communicate information to process people to take decision..There are 2 kinds of decision makers 1) outside(a) Users and Internal UsersExternal users They are not directly gnarled in running the business. So, they will have a very limited admission to an organization details. Still their business decisions depend on the information that is reliable, comparable to(predicate) and relevant. . External users include people like Lenders, Government shareholders, external auditors and regulators.. sheath External auditors use financial stateme nts to verify that they are properly wide-awake according to GAAP.2) Lenders would tang into the information whether an organization will repay its loanword and interest.3) Customers use financial statement to check the power of the suppliers.See more(prenominal) Homeless satire essayInternal Users They are directly involved in managing and operating an organization they will help in modify 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 company activites.