Match the financial statement users and other parties involved in the use of and preparation of financial
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Financial Statement Users and Other Parties Role Equity Investors 1. Banks and other financial institutions that lend money to the 2. Use financial statements to determine whether to conduct 3. Use financial information to deterrnine their market positiorn company _-Creditors business or purchase products from a company. Financial Analysts relative to the reporting entity and to attempt to identify future strategies of the reporting entity Employees and Labor Unions 4 Independent of the company and responsible for ensuring that management prepares and issues financial statements that comply with accounting standards and fairly present the financial position and economic performance of the company. Suppliers and Customers 5. Use financial information to review and analyze reported results of the companies they cover and make investment recommendations. Government Agencies 6. Employees of the company serving in an advisory role to management. They proide information to management regarding the company's operations and proper functioning of its internal controls. Competitors Extemal Auditors Intemal Auditors 7 Review the financial statements of publicly traded companies 8. Use financial information during negotiation of new labor 9. Support accounting professionals throughout their careers by for a variety of reasons that are in the public interest. agreements and compensation contracts providing training, professional skills development, and other Regulatory Bodies Professional Organizations 10. Shareholders of the company 11 Protect investors and oversee the accounting and auditing standard setting prooesses.
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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