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  • Hi, Else here.

  • And today we'll be talking about the users and the users

  • of accounting information.

  • What is accounting?

  • Accounting is an information system

  • that identifies and records and organizations

  • transactions and then communicates them

  • to a wide variety of interested users.

  • A knowledge of accounting is relevant and useful

  • in whatever career you decide to pursue--

  • be it marketing or financial analyst.

  • Every position requires some knowledge of accounting

  • or an understanding of how your actions in your position

  • will affect the business overall--

  • both their profitability and their progress as they

  • move forward.

  • You must be able to analyze the information from the past,

  • so you can adjust what you do in the future

  • to ensure the company you own or work for is profitable.

  • You need accounting information to make informed decisions

  • about how to move forward.

  • So just who are the users of financial information

  • and what information do they need to make decisions?

  • Users of accounting information are individuals

  • who have questions about an organization

  • and they need information to find answers and make

  • smart decisions.

  • They analyze what happened in the past

  • in order to predict what may happen in the future.

  • To do that, they need detailed accounting information

  • on a timely basis.

  • There are really two types of users

  • of accounting information-- internal and external users.

  • Internal users plan, organize, and run businesses.

  • They ask questions such as what price should

  • we charge for our product or service,

  • should we expand on global markets or not,

  • what products are profitable, and which

  • should be discontinued?

  • Internal users have access to a large amount of information

  • and they will not be the focus of this course.

  • External users are outside of an organization.

  • They depend on financial statements

  • in order to make informed decisions.

  • Investors, lenders, and other creditors

  • are the key external users of accounting information.

  • They make resource allocation decisions.

  • That means that their decisions generally

  • involve the giving up or receiving

  • of cash, goods, or services.

  • So what questions do the main external users have?

  • Well, an investor might ask if a business is profitable enough

  • to give them a return on their investment.

  • A lender might ask if a business will

  • be able to repay a loan plus interest when

  • the loan comes due.

  • And other creditors might ask if the bills

  • a company has outstanding will be paid in the future.

  • There are other external users that might also have questions.

  • Employees and labour unions want to know if they will receive

  • higher wages or better benefits.

  • Customers are interested in whether a business will honor

  • their warranties in the future.

  • Tax agencies, like Revenue Canada,

  • want to know if an organization is paying appropriate taxes.

  • Regulatory agencies, like the Securities Exchange Commission,

  • want to know if an organization is

  • in compliance with their rules.

  • And finally, financial analysts want

  • to know if a company is one that they want

  • to recommend to their clients.

  • But the key external users of accounting information

  • are still investors, lenders, and other creditors.

  • This is because they are the users who

  • make decisions about resources.

  • It's important to check your understanding and the best way

  • to do that is to test yourself.

  • Periodically, you're going to see multiple choice questions.

  • I recommend that you pause the video

  • and answer the questions yourself

  • before you check to see if you've got it right.

  • Determining if a company can pay its obligations as they

  • come due is the primary objective of which

  • of the following users?

  • The primary objective of investors, competitors,

  • and labour unions is not whether a company can pay its bills

  • when they come due.

  • Yes, those external users are concerned about that,

  • but it's not their primary concern.

  • Creditors, also called lenders, have a primary objective.

  • And that is whether the company is

  • able to pay their bills as they come due.

  • What about ethics and accounting information?

  • In order for accounting information to be useful,

  • it must represent the actual economic activity

  • of an organization--

  • what we call the underlying truth.

  • Preparers of accounting information

  • have extensive rules of conduct to guide what they report,

  • when they report it, and how they present it

  • to interested users.

  • Without ethics in accounting, the information

  • produced by accounting information systems

  • would be useless for decision making.

  • Following incorrect information would result in

  • not only possibly a financial crisis, but also

  • reduced confidence in the information provided

  • by accounting systems.

  • Ethics and accounting is critical to the health

  • of a business and also financial markets.

  • And it's a key focus when preparing

  • accounting information.

  • In the next video, we'll be talking

  • about the three main types of organizations

  • and the main activities that businesses engage in.

Hi, Else here.

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A2 初級

財務諸表-講義1-用途と利用者 (Financial Statements - Lecture 1 - Uses and Users)

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    陳虹如 に公開 2021 年 01 月 14 日
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