Users of Financial Information
Users of financial information are the main focus of general purpose financial reports, which is the most cost-effective means of providing information to a variety of users. Key aspects of the objectives are information, decision, resources, and claims to resources. These aspects apply to all users, although the nature, extent, and details of information could be different for each user. Information needs and requirements could conflict at times and coincide in others.
At the end of this lesson, you shall be able to:
- Know how users obtain information
- Know the objective of and information provided by general purpose financial reports
- Identify primary users of financial information and their information needs
- Identify other users of financial information and their information needs
