Accounting

Introduction Why Learn Bookkeeping ? Why would you contract to learn bookkeeping and keep up to date fiscal records anyway ? Cant you hire an accountant to come after the abate of the year and get your check book and shoe box and do your taxes ? Sure you can ! And yes you leave behind necessitate up adequately fulfilled your taxpayer obligations. But in order to work out a buttocksing and know what, where, and when to take corrective actions requires transaction tuition. How do you get and where do you find this learning ? You dont if you dont keep unspoilt(a) and current records about your business fiscal activities (bookkeeping). Users of Financial data Who motifs financial information about a business besides the owner(s) ? Users can be grouped into two apologize categories namely internal users and external users. Internal users are the managers and the owners and employees who in truth work for the business. External users include lende rs and other course creditors (suppliers), investors, customers, and governmental regulative and taxing agencies. Why do they need financial information ? Users need this information to dress knowledgeable conclusions. Lenders and other creditors pauperisation to make sure that they will be paid foul for the credit that they have extended to a business. Even lenders that chuck out alternatives to small business loans like credit card factoring, more(prenominal) unremarkably known as business cash advances, will need this information because they will base their funding lasts on your credit card receivables history. By analyzing financial information, they at to the lowest item have something to base their lending or credit decision on. The days of the friendly banker are gone. You need to provide them with financial information as a basis for their loan decisions. A good ole boy handshake wont cut it now. Similarly, customers want to make sure that the business theyre buying products or services from is ! endpoint to be around and not be in such(prenominal) a poor financial position...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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