A Study on Accounting Types and Its Users

This paper attempts to know the meaning and types of accounting as well as the users of accounting information. Accounting is identified as the language of business. There are mainly thirteen types of accounting. Accounting information is very useful to internal users of business like management, owners and employees as well as external users like investors, government, customers, financial institutions etc. They use accounting for the interpret and appraisal the financial performance, liquidity, solvency and debt repaying capacity as well as safety of return on capital employed. In a nutshell, accounting plays an indispensable role in business.