who are the users of accounting?

Question

what are the accounting period?
define accounting period?

Answer 1

An accounting period is a period with reference to which United Kingdom corporation tax is charged. It helps dictate when tax is paid on income and gains. An accounting period begins whenever a company comes within the corporation tax charge, and whenever an accounting period ends without the company ceasing to be within the charge. There are a number of rules about when an accounting period ends, and we look at each of these in turn below. The rule is that an accounting period ends on the earliest of the events listed below. An accounting period cannot last longer than 12 months. However, there is no minimum period of time for which an accounting period will last: in theory there can be one lasting just a nanosecond, or even only an instant.

Answer 2

Accounting can be divided into several fields including financial accounting, management accounting, auditing, and tax accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

Answer 3

All such persons and entities who have any type of interest in the business are the users of accounting. These persons or entities includes:

The owners: In order to know the results of the investments made in the business.

The Management: In order to know the results of the policies implemented by them in the business.

The lenders: In order to know the results of the amount lended to the business.

The government: for making taxation, business,and economic policies in the country.

and many others...

In terms of accounting, an accounting period is any period after completion of which the accounting statements are prepared in order to know the results of the business i.e., if the business has earned any profit or Loss.

For more exact definition please watch International Accounting Standards.