Describe the informational needs of external users.

Explanation

Accounting info is employed by varied users as per their demand . The informational wants vary from person to person and that they all wish to induce their thrust happy with the data obtainable.Here area unit a number of the external users of accounting info and their informational wants.



i) The creditors (lenders) as Associate in Nursing external user of the accounting info wish to understand if they're seemingly to induce paid and appearance significantly at liquidity,which is that the ability of the corporate / organisation to pay its debts as they become due.



ii) As Associate in Nursing external user of accounting info, the potential capitalist United Nations agency seeks investment chance use them to assess whether or not or to not invest their cash within the company / organisation.



iii) As Associate in Nursing external user of the accounting info, the govt and restrictive agencies like Register of firms,Custom departments IRDA ,RBI etc need info for the payment of varied taxes like price additional Tax (VAT), taxation (IT), Customs and Excise duties for shielding the interests of investors, creditors (lenders) and conjointly to satisfy the legal obligations obligatory by the businesses Act, 1956 and SEBI from time-to-time.