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Assignment Acc. & Finance Col MBA Semester 1

Assignment Acc. & Finance Col MBA Semester 1

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Published by Zahid Nazir

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Published by: Zahid Nazir on Jun 02, 2009
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04/09/2013

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 Assignment No. 1
 A  A CCCCOOUU N NTTII N NGG&& FFII N N A  A  N NCCEE ((55556666)) 
Executive MBA/MPA 
ZAHID NAZIR 
Roll.No. AB523655Semester:Autumn 2008
 
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Question
1
 
a). State the group of persons having an interest in abusiness organization and examine the nature of their information needed. Differentiate betweenrecordative, interpretative and auditive functions of  Accounting.Marks: 10 (b) How can accounting reports, prepared on a historical basis after the close of a period, be useful tomanagers in directing the activities of business? Marks: 10 
 
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a).
There are several groups of people who have a stake in a businessorganization. They are the following:
 
Managers
 
Shareholders
 
Creditors
 
Employees
 
Customers
 
Banks
 
Financial Investors
 
Suppliers
 
Labour Union
 
Potential InvestorsAdditionally the community at large has economic and social interestin the activities of such organizations. This interest is expressed atnational level by the concern of government in various aspects of firm’s activities such as their economic well being, their contributionto welfare, their part in the growth of national product.Information needs of various users are:
SHAREHOLDERS & INVESTORS
 Since shareholders and other investors have invested their wealth ina business enterprise, they are interested in knowing about theprofitability of the enterprise, the soundness of their investment andthe growth prospects of the enterprise. Historically, businessaccounting developed to supply information to those who hadinvested their funds in business enterprises.
CREDITORS
Creditors may be short term or long term lenders. Short termcreditors include suppliers of materials, goods or services. They are

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