Accounting and Its

Stakeholders Expectations

Accounting • DEFINITION: Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business. • It also refers to the process of summarizing. analyzing and reporting these transactions to oversight agencies and tax collection entities. • Accounting is one of the key functions for almost any business .

Stakeholders • Definition: A corporate stakeholder is an individual or group who can affect or be affected by the actions of a business • The stakeholder concept was first used in a 1963 internal memorandum at the Stanford Research Institute. • It defined stakeholders as "those groups without whose support the organization would cease to exist .

Types of Stakeholders • Internal Stakeholders • External Stakeholders .

Owner Reputation Directors & Managers Job security. personal power.Stakeholder types and their expectations Stakeholder Type Expectations Wealth. Growth. Profits. high rewards. organisational profitability / growth . status.

promotion.Stakeholder types and their expectations Stakeholder Type Expectations Employees High / fair play. fair treatment. accurate product / service information . Customers functional safe products. clear. training opportunities. safe working environment. interesting work. job security. a say in decisions Quality / value for money.

good working relationship. good security . regular & profitable contracts. discounts.Stakeholder types and their expectations Stakeholder Type Expectations Suppliers Secure. timely payment. fair terms of trade. organisational growth Creditors Timely payment.

a say in the business. Shareholder regular. safety and environmental legislation. health. Capital gain on shares. compliance with environment. secure / high dividends. . payment of taxes.Stakeholder types and their expectations Stakeholder Type Expectations Government Job creation.

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