Main users of the accounting information
Briefly list out the main users of the accounting information which are related to the business?
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There are many group of user with an interest in the accounting information associating to a business. The majority of such are outside the business however; nonetheless, they have a stake in the business. Most probably, the cost of generating this information is justified on the grounds which managers believe it to be helpful to them. These arguments and evidence, though, leave unanswered the question as to whether the information generated really is being employed for decision-making purposes.
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
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