The Information Needs of a Specific User of Financial Accounting

question 17

Essay

The information needs of a specific user of financial accounting information depends upon the kinds of decisions that user makes. Identify the major users of accounting information and discuss what questions financial accounting information answers for each group of users.

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Definitions:

Countersunk

A method of setting screws or bolts in which their heads sit flush with or below the surface of the material, often used for a neat finish or in applications where a smooth surface is necessary.

Even Radius

A term describing a curve or surface where all points are equidistant from a central point, typically referring to the design and manufacture of components or spaces.

Pressure Protection Valve

A normally closed, pressure sensitive control valve. Some are externally adjustable. Can be used to delay the charging of a circuit or reservoir or to isolate a circuit or reservoir in the event of a pressure drop-off.

Maintain Pressure

The act of keeping the pressure within a system at a desired level to ensure proper operation.