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For each user of accounting​ information, identify if the user would use financial accounting or managerial accounting.
a. investor
b. banker
c. IRS
d. manager of the business
e. controller
f. stockholder
g. human resource director
h. creditor

Respuesta :

jafruevu

Answer:

a. Investor - Financial Accounting;

b. Banker - Financial Accounting;

c. IRS - Financial Accounting;

d. Manager of the business - Managerial Accounting;

e. Controller - Managerial Accounting;

f. Stockholder - Financial Accounting;

g. Human resource director - Managerial Accounting;

h. Creditor - Financial Accounting.

Explanation:

Requirement A - D

a. Investor - Financial Accounting - Investor decides after evaluating the past performance of a company whether to invest or not. They cannot provide any upper-level decisions.

b. Banker - Financial Accounting - Preparing financial statements or boosting company performance is the crucial working area for a banker. They cannot make a decision.

c. IRS - Financial Accounting - Internal Revenue Service deals with the financial statements of an organization and not deals with the organization's decision.

d. Manager of the business - Managerial Accounting - When a branch of an accounting discusses how to make managerial decisions to achieve the objective with the managers or administration, it is termed as managerial accounting. The manager of a business decides what the necessary things for a company are.

Requirement E - H

e. Controller - Managerial Accounting - The controller of an organization directly deals with the managers regarding various managerial decisions.

f. Stockholder - Financial Accounting - Stockholders cannot make any decisions. They can only give their opinions to alter the situation to maximize the value of the shares.

g. Human resource director - Managerial Accounting - Human resource director makes recruiting-related decisions that are internal. As managerial accounting deals with internal decisions, the human resource director is under the managerial accounting category.

h. Creditor - Financial Accounting - Creditors can ask for early payment, but they cannot urge the mangers to make any decisions.

chilljain33

The correct methods of accounting to be used for the below phenomenon will be -

  1. Investor - Financial Accounting
  2. Banker - Financial accounting
  3. IRS - Financial accounting
  4. Manager of the business - Managerial accounting
  5. Controller - Managerial accounting
  6. Stockholder - Financial accounting
  7. Human resource editor - Managerial accounting
  8. Creditor - Financial accounting.

Financial accounting is referred to as that branch of accounting, which deals with the financial aspects of a business and managerial accounting deals with management of the firm by accounting principles.

Methods of Accounting

  • Financial accounting is a process of accounting that involves recording, classifying and summarizing the accounting transactions of a firm over a period of time in chronological order.

  • Managerial accounting is that branch which helps in analysis and interpretation of a firm's performance during an accounting financial period.

Hence, the different methods of accounting followed for specific tasks are as aforementioned in the part above.

Learn more about methods of accounting here:

https://brainly.com/question/15687489

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