1 financial accounting is focused on providing information to whom?

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Chandler Murray asked a question: 1 financial accounting is focused on providing information to whom?
Asked By: Chandler Murray
Date created: Tue, Feb 9, 2021 4:20 AM
Date updated: Fri, Sep 23, 2022 7:36 AM

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Top best answers to the question «1 financial accounting is focused on providing information to whom»

  • Financial accounting provides information to enable stockholders, creditors, and other stakeholders to make informed decisions. This information can be used to evaluate and make decisions for an individual company or to compare two or more companies.

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Financial accounting's focus is on providing financial statements to users outside the organization, such as stockholders, investment analysts, creditors, and various regulatory agencies. Financial accountants pro­cess financial data and aggregate it over some period of time.

The focus of financial accounting is on summarizing and reporting a business's financial position to entities outside the business with a vested interest, such as stockholders, creditors ...

1. Financial accounting is focused mostly on a. controlling and planning for costs b. reporting for external users such as creditors, shareholders, etc. c. performing an evaluation of profitability. d. providing information for strategic and tactical decisions. e. providing analysis to facilitate long-term decision making. 2.

Financial Accounting vs. "Other" Accounting. Financial accounting represents just one sector in the field of business accounting. Another sector, managerial accounting, is so named because it provides financial information to a company's management.This information is generally internal (not distributed outside of the company) and is primarily used by management to make decisions.

Managerial accounting information is aimed at helping managers within the organization make well-informed business decisions, while financial accounting is aimed at providing financial information...

To communicate information about the financial health of a company to external users (people outside of the company [creditors/investors]) creditors=a person or company to whom money is owed Investors =a person or company that puts money into financial property/schemes (in order to make a profit)

17) Managerial accounting is focused on which of the following objectives? A) Providing information that managers need to make operational decisions B) Providing historical data to investors and creditors C) Providing summarized results of operations D) Providing information to comply with laws and regulations of government bodies Answer: A Diff: 1 LO: 16-1 EOC Ref: E16-14 AACSB: Content ...

Fiduciary accounting; Auditing; 1. Financial accounting. Financial accounting is concerned with the preparation of periodic financial reports by using historical data of a business enterprise. The basic purpose of these reports is to provide useful and timely information about an entity’s financial position and its operating results to owners, managers, investors, creditors and government agencies etc. Financial position refers to the resources and obligations of a business at any given ...

Financial accounting focuses on history; reports on the prior quarter or year. Managerial accounting focuses on the present and forecasts for the future. Format. Financial accounts are reported in a specific format, so that different organizations can be easily compared. Format is informal and is on a per department/company basis as needed.

Accounting Ch 1. David, a purchasing agent for his company, received two tickets from a supplier to the upcoming Ohio State vs. University of Michigan football game. These tickets sell for over $500 each. The CFO directed that certain expenses be reclassified as assets, so that target profit could be achieved.

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