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Accounting and Its Stakeholders Expectations

Accounting involves systematically recording and reporting on a business's financial transactions. It provides oversight agencies and tax authorities with information about a business. Accounting is a key function for most businesses. A document then discusses stakeholders, who are individuals or groups affected by a business. It identifies internal stakeholders like owners, managers, and employees, and external stakeholders like customers, suppliers, creditors, government, and shareholders. The document outlines the main expectations each stakeholder group has, such as profits and reputation for owners, job security and rewards for managers, and timely payments for creditors.

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Lalithya Sannitha Meesala
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300 views9 pages

Accounting and Its Stakeholders Expectations

Accounting involves systematically recording and reporting on a business's financial transactions. It provides oversight agencies and tax authorities with information about a business. Accounting is a key function for most businesses. A document then discusses stakeholders, who are individuals or groups affected by a business. It identifies internal stakeholders like owners, managers, and employees, and external stakeholders like customers, suppliers, creditors, government, and shareholders. The document outlines the main expectations each stakeholder group has, such as profits and reputation for owners, job security and rewards for managers, and timely payments for creditors.

Uploaded by

Lalithya Sannitha Meesala
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Accounting and Its

Stakeholders Expectations
PRESENTATION BY- M .LALITHYA SANNITHA
REGISTER NUMBER:16331E0059
Accounting

DEFINITION: Accounting is the systematic and comprehensive


recording of financial transactions pertaining to a business,
It also refers to the process of summarizing, analyzing and
reporting these transactions to oversight agencies and tax
collection entities.
Accounting is one of the key functions for almost any business
Stakeholders
Definition: A corporate stakeholder is an individual or group who
can affect or be affected by the actions of a business
The stakeholder concept was first used in a 1963 internal
memorandum at the Stanford Research Institute.
It defined stakeholders as "those groups without whose support the
organization would cease to exist
Types of Stakeholders
Internal Stakeholders
External Stakeholders
Stakeholder types and their
expectations
Stakeholder Type Expectations

Wealth, Profits, Growth,


Owner
Reputation

Directors & Managers Job security, status, personal


power, high rewards;
organisational profitability /
growth
Stakeholder types and their
expectations
Stakeholder Type Expectations

Employees High / fair play, interesting


work, job security, promotion,
training opportunities, safe
working environment, fair
treatment, a say in decisions

Quality / value for money;


Customers functional safe products; clear,
accurate product / service
information
Stakeholder types and their
expectations
Stakeholder Type Expectations

Suppliers Secure, regular & profitable


contracts; discounts; timely
payment; good working
relationship; fair terms of
trade; organisational growth

Creditors
Timely payment, good security
Stakeholder types and their
expectations
Stakeholder Type Expectations

Government Job creation; payment of


taxes; compliance with
environment, health, safety
and environmental legislation.

Capital gain on shares;


Shareholder
regular, secure / high
dividends; a say in the
business.
Thank you

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