1. Below are the different users of accounting information of a business entity. Identify the
needs of each of the users (in what situations/ways each of the users would use
accounting information):
a. Finance Manager
b. Marketing Manager
c. Human resource Manager
d. Purchasing Manager
e. Employees
f. Suppliers
g. Auditors
h. Shareholders (existing and potential)
i. Bank institution
j. The Government

2. What are the two main forms of accounting? List the principal differences between the
types of information that practitioners of each discipline produce.

3. Try to write in jargon-free terms an example of the information that might be prepared by
a financial accountant versus a management accountant.

4. Potential and current investors are the primary users of financial statements but there are
others. List four different users aside from investors and explain their information needs.

5. Why should a non-accountant, specifically manager study accounting and finance?

6. Differentiate the structure of setting up a business as a sole trader, partnership and
limited company.

Answer rating: 100% (QA)

1Users of financial information and their needs Finance manager Finance manager are entrusted with the work of raising funds allocating funds to various functions of the organization planning the prof... View the full answer