Monday, July 30, 2012

The Public Group



External users in the public group and their needs are the following:

Government, Regulatory Agencies or Taxing Authorities
These users are interested in the financial statements of the organization for taxes, regulations, data and statistics. 
Employees, Labor Unions or Retirees
These users are interested in the financial statements to ascertain the employers financial strength and stability.   
They want to know the capability of their employer to provide for remuneration, benefits, retirement assistance, and other allowances or incentives the company can provide.
Customers
These users are interested in the financial statements of their suppliers and trade creditors to evaluate the latter's capability to continue doing business with them.  
Existence of some business are dependent with some suppliers. They need the financial statements to ensure the availability of supplies and sustainability of their production or operation.
Public or Economic Planners
The public or economic planners are interested in the financial statements of entities because they provide information regarding trends, operations, activities, and developments of the organization.






No comments:

Post a Comment