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Unformatted text preview: assessing the information and coming to a conclusion about it. Exercise 1-1B: Describe the kind of accounting information needed by each of these users: Owners (present and future): the current state of financial affairs and the profits (losses) of the company. Managers: the details of how the business is performing. Creditors (present and future): the companys profit/loss status as well as debt/loss situation in order to secure debt. Government agencies: the overall financial condition of the company including their profit/loss and the status of their cash flow....
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- Spring '11
- Financial Accounting