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Who are the external users of information? - Accountancy

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Answer in Brief

Who are the external users of information?

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Solution

External users of information are the individual or the organisations that have direct or indirect interest in the business firm; however, are not a part of management.

They do not have direct access to the internal data of the firm and uses published data or reports like profit and loss accounts, balance sheets, annual reports, press releases, etc.

Some examples of external users are government, tax authorities, labour unions, etc.

Concept: Introduction to Accounting
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APPEARS IN

NCERT Accountancy Financial Accounting 1 Class 11
Chapter 1 Introduction to Accounting
Questions for practice | Q 6 | Page 20
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