List Three Different Groups of Users of Accounting Information

question 76

Essay

List three different groups of users of accounting information.Indicate the type of decisions each group typically makes from accounting information.

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Definitions:

Revenue Variance

The difference between actual revenue earned and the budgeted or forecasted revenue.

Actual Revenue

The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise.

Static Planning Budget

A budget based on a set level of activity, unchanged over the budget period and not adjusted for actual activity levels.

Spending Variance

The difference between the actual amount of an expense and the budgeted or planned amount.