Internal Accountancy - (iii) Customers Customers who buy and use the products and services of business enterprises are interested in knowing the details of the products and the prices charged to them. They are interested in knowing the stability and profitability of an enterprise to ensure continued supply of the products or services by the enterprise. (iv) Tax authorities and other regulatory bodies Accounting information helps the tax authorities in computing income tax and taxes on goods and services and other taxes to be collected from business units. Other regulatory bodies also require information about revenues, expenses and other financial aspects of business to ensure that the enterprises comply with statutory requirements.
(v) Government The scarce resources of the country are used by business enterprises. Information about performance of business units in different industries helps the government in policy formulation for development of trade and industry, allocation of scarce resources, grant of subsidy, etc. Government also administers prices of certain commodities. In such cases, government agencies have to ensure that the guidelines for pricing are followed.
(vi) Researchers Researchers to carry out their research can use accounting information and make use of the published financial statements for analysis and evaluation. (vii) General public From accounting information, the general public at large can get a view of the earning capacity and stability of the enterprise as well as the social responsibility measures undertaken by the enterprise particularly in its area of operation and also the employment opportunities provided to the local people. . Role of an accountant An accountant designs the accounting procedures for an enterprise.
He plays several roles in an organisation as follows: (i) Record keeper The accountant maintains a systematic record of financial transactions. He also prepares the financial statements and other financial reports. (ii) Provider of information to the management The accountant assists the management by providing financial information required for decision making and for exercising control. (iii) Protector of business assets The accountant maintains records of assets owned by the business which enables the management to protect and exercise control