Consumer Business Accounting Information What are some of the groups that need accounting information? What kind of accounting information do they need? Why?
Think of a company you’ve done business with as a consumer. How might managers in this company use accounting information to made decisions?
What might happen to the company if it did not have access to timely and accurate accounting information? Accounting provides companies with various pieces of information regarding business operations. It is often conducted by a company’s internal accounting department and reviewed by a public accounting firm. Small businesses often have significantly less financial information recorded during the accounting process.