Topics, 100 Accounting Resources, 100 Reading List
Accounting is divided into two major groups; Financial Accounting & Managerial Accounting.
Financial accounting has the end goal of generating financial statements, financial statements designed with external user needs in mind. The aim of financial accounting toward external users may seem strange at first because financial data is required and used for internal, managerial, decision making as well but external users have needs that require more reliance on financial statements in many ways.
External users are users outside the company and include investors, creditors, the internal revenues service, and customers. Companies need these external users for things such as investments, loans, and to follow laws and regulations.
External users . . .
