The field of accounting that serves external decision makers, such as stockholders, suppliers, banks and government agencies Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ... A shareholder or stockholder is an individual or company (including a corporation), that legally owns one or more shares of stock in a joint stock company. ... The essential function of a bank is to provide services related to the storing of value and the extending of credit. ... An agency is a department of a local or national government responsible for the oversight and administration of a specific function, such as a customs agency or a space agency. ...
field of accounting concerned with external users of a company's financial information. Management accounting is concerned with the provision and use of accounting information to managers within organizations, to facilitate the managers in their decision making and management control functions. ...
Financialaccounts are concerned with classifying, measuring and recording the transactions of a business.
Financialaccounts are geared towards external users of accounting information.
Every UK company registered under the Companies Act is required to prepare a set of accounts that give a true and fair view of its profit or loss for the year and of its state of affairs at the year end.
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