If you continue browsing the site, you agree to the use of cookies on this website. You may need to download version 2.0 now from the Chrome Web Store. Internal and external users of financial information, Entertainment Industry Of India (Film Industry), No public clipboards found for this slide, Panineeya Institute Of Dental Sciences And Research Centre. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Scribd will begin operating the SlideShare business on December 1, 2020 Top 4 Branches of Accounting – Discussed! This financial data is useful for users of accounting information system for reporting the financial information to Owners/Shareholders, Managers, Prospective Investors, Creditors, Bankers, and other Lending Institutions, Government, etc. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Learn more. Various taxes and excise duties are levied by the government after analyzing the financial statements. Debt-Equity Ratio, Current Ratio, etc., management can understand the short term or long term solvency of the business. If you continue browsing the site, you agree to the use of cookies on this website. They analyse the financial statements to assure themselves for the safety of their money and to know whether firm is solvent enough to repay the debts. By using customized, intelligent, built-in formulas, the accounting information system is capable of displaying the profitability of a business for a specific period of operation. to: It is responsible for judging the solvency of the enterprise and to meet its debt obligations on time. Sometimes government restricts the trade which is using unfair trade practices and charging more prices for essential commodities. If you continue browsing the site, you agree to the use of cookies on this website. If you continue browsing the site, you agree to the use of cookies on this website. Disclaimer 8. Copyright 9. Financial statements report on a company's position for a specific time period. There are several models of business process have been developed, the useful model is that which views a companys business process in terms of its transaction cycles. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our User Agreement and Privacy Policy. External users have limited authority, ability and means to access the required information. Now customize the name of a clipboard to store your clips. They are interested in the profitability and solvency of the business concern. General Uses of Accounting Information. for various reasons such as determining the price of securities, decisions for buying or selling of securities, knowing the contribution of public or private sector in the gross national product etc. Management is interested in assessing the capacity of the business to earn profits in future. Content Filtration 6. Clipping is a handy way to collect important slides you want to go back to later. If you wish to opt out, please close your SlideShare account. The relevance of accounting numbers depends on the person using it.  identify the type of decisions made by each Image Guidelines 4. banks and financing companies are interested to know the short term as well as the long term solvency position of the entity. A business owner uses accounting information to gauge the financial performance of his enterprise. Performance & security by Cloudflare, Please complete the security check to access. If you wish to opt out, please close your SlideShare account. See our Privacy Policy and User Agreement for details. Terms of Service 7. Lecture 1 accounting information system, an overview, Accounting information system presentation, Introduction to accounting information system, At the bank - Basic English for Communication, 2005: Natural Computing - Concepts and Applications, No public clipboards found for this slide. users of accounting information internal and external users. 1. Prohibited Content 3. decision.”. 1. LEARNING OBJECTIVES1. They need the accounting information on cost of sales, profitability and solvency of the business enterprise for planning, controlling and decision making. Accounting information is presented in a variety of ways. “Accounting is a service activity. Scribd will begin operating the SlideShare business on December 1, 2020 In short, accounting relevance should contain accurate and orderly information. Looks like you’ve clipped this slide to already. intended to be useful in making economic Explain why studying AIS is important.3. The amount of bonus to be granted to employees is also fixed after analysing the financial statements. Accounting information is important to internal stakeholders, including business owners, managers and employees, and external stakeholders such as lenders, donors and the general public. Report a Violation 10. Through various ratios viz. And it will hold more meaning if it has been used over some time and more useful if one understands the generally accepted accounting principles based on which the financial report has been prepared. function is to provide qualitative It is responsible for judging the solvency of the enterprise and to meet its debt obligations on time. The wealth of the business enterprise is an indication that the positions of employees are stable and chances of growth within the enterprise are bright. ACCOUNTINGINFORMATION AIS SYSTEMS 2. Now customize the name of a clipboard to store your clips. On the basis of accounting information, customers can know the continued existence of the enterprise and continued supply of the products and services rendered by it. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime. See our Privacy Policy and User Agreement for details. • Management may consist of Board of Directors, Managers and other officers of the business enterprise. Accounting information is used to prepare financial statements. For knowing the relative strengths and weaknesses of their competitors and for strategic purposes, business enterprises examine and analyse the financial statements of other business enterprises, their credit policies and debt collecting procedures. Users of Accounting Information: Internal and External Users! Accounting Information System (AIS) is a system which collects, stores and processes the accounting and financial data. • Users of accounting information chapter 3 1. Accounting is the primary measuring tool in business. Plagiarism Prevention 5. Accounting information is measurable, quantifiable information about the transactions and events involving a business entity. “Accounting is a service activity. Lenders and financial institutions viz. The salaries of the employees indirectly depend upon the profits of the enterprise. Accounting information system 1. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Cloudflare Ray ID: 5f197491af4132ab group of users Account Disable 11. Uploader Agreement, Read Accounting Notes, Procedures, Problems and Solutions, Learn Accounting: Notes, Procedures, Problems and Solutions, 8 Main Users of the Financial Statements | Company. Similarly, with the help of Cash Flow Statement, the need for short term and long term funds can be known. Income Tax Department, Sales Tax Department and Customs and Excise etc. Looks like you’ve clipped this slide to already. Suppliers and Trade Creditors are interested in the financial strength of an entity, so that they can extend credit for goods accordingly. Learn more. Its Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Owners are the persons who contribute capital in the business and ultimately responsible to bear all risk associated with the business. 1. Some other parties may also be interested to analyse the financial statements of an enterprise such as stock exchange authorities, researchers, economists, etc.

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