-No Topic- Essay Example | Topics and Well Written Essays - 2000 words

-No Topic- - Essay Example Warren et al 2012 say that professionals in this field; accountants must be competent enough to deal with accounting information in relation to potential users. Essentially, it is argued that accounting information should be relied upon the titles of the potential users. Thus accountants must be extremely clear on whom and what purpose accounting information is been given to. Significantly, several groups of people may require such information for both their interest and that of a given organisation. Some of the potential users include; customers, government, managers, suppliers competitors among others (Martin 2009; McLaney and Atrill 2010). According to Gelinas et al 2012, accounting information might not be able to give solid decisions or definite answer to potential users as it is a field that continuous grows in relation to various advancements. None the less, this kind of information is crucial in ensuring that uncertainty is reduced in businesses with reference to their assumed financial position and the overall performance (Bisen 2009). As such, accounting information has three major roles in businesses; rewarding and or payment of employees, repayment of loans, and the reimbursement of money to business owners. Conversely, there are alternative sources of information which might be derived from published articles such as newspapers and magazines which at times is not accurate thus giving conflicting statement on financial matters of given businesses (Peng 2011). According to numerous research that have been analyzed by financial scholars, it is evident that accounting information ranges among the few relied on sources of financial wellbeing and related information on businesses as opposed to other sources. Duening and Click (2004) articulate that most major companies have relied on accounting information in ensuring that checks and balances in their financial