And profit is exactly the reward some resource

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Unformatted text preview: pose is clear: profit. And profit is exactly the reward some resource providers are fully dependant on and their reward is thus fully at risk. In a non-profit oriented entity the purpose is not clear, it might be anything. But whatever the purpose, the same reasoning can be applied: it is the achievement of the purpose that is at risk for those resource providers whose reward depends on just that achievement. Naarden, march 2007. P. A. Pieterse van Wijck. All rights reserved. Users of financial reports of profit and non-profit oriented entities have similar needs. All want to be informed on the achievement of the purpose of the conversion and exchange process in relation to their risk. 5. Do the users of financial reporting of small, large, listed, unlisted companies have similar needs? Following the same reasoning as presented above the answer to the question is by definition yes. All resource providers, irrespective of the size or the purpose of the entity they provide resources to, face risks; the only thing that might vary is the value at risk, but not necessarily in relation to the...
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This note was uploaded on 12/02/2013 for the course ACCOUNTING ACC123 taught by Professor Brown during the Spring '14 term at American Public University.

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