Ethical Challenges in the Apparel Industry
Added on 2020-04-07
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Running head: ACCOUNTING IN ORGANIZATIONS AND SOCIETYAccounting in Organizations and SocietyName of the University:Name of the Student:Authors Note:
1ACCOUNTING IN ORGANIZATIONS AND SOCIETYTable of ContentsQuestion 1:...........................................................................................................................2Question 2:...........................................................................................................................3Question 3:...........................................................................................................................4Question 4:...........................................................................................................................5Question 5:...........................................................................................................................6Reference List......................................................................................................................7
2ACCOUNTING IN ORGANIZATIONS AND SOCIETYQuestion 1:The five important stakeholder group of the company is identified and explanation regardingthe ways in which different accounts can be employed for satisfying the stakeholders informationneeds are below:Suppliers: The accounting data is needed for them to make sure that it is focused ontenets and controls and that it safeguards partners’ interest that rely on such data.Consumers: Clients have interest for the accounting data for surveying financial positionof a business, specially, when they have certain long term inclusion with, as it focuses onmaintaining an unfaltering source of business (Accenture 2017).Employees: Money related accounting is a center authoritative capacity in whichbookkeepers set up an assortment of records to educate partners of the budgetarysoundness of operations. Employees use the accounting data to ensure financialwellbeing, offers and productivity measures of business to ensure their employerstability, certain chance of future compensation, retirement benefits and work openings.Creditors: Loan bosses are considering attaining accounting data, as it facilitates them todecide a business credit value. The credit terms and guidelines are determined to makesure the financial wellbeing of a business, in this way, it encourages them to examine byusing the precise data (Chenhall and Moers 2015). Creditors include providers andmoneylenders, for example, banks. Exchange creditors are by and large affected by theaccounting data than banks.Owners: Owners use accounting data for analyzing the feasibility and gainfulness of theirassumptions. Accounting data encourages the owners to evaluate the business
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