The accounting information is useful to various interested parties, both internal and external viz., •
Suppliers, who supply goods and services for cash or on credit
Customers, who buy goods or services for cash or on credit
Employees, who provide services in exchange of salaries and wages
Banks, with whom accounts are maintained
Suppliers of equipment, buildings and other assets needed to carry on the business.
Lenders, from whom you borrow money to finance your business
Owners, who hold a share in the capital of your business