Kelley's Kloset, LLC, has applied for a business loan. Her prospective banker has requested information concerning the financial condition of her business. Which accounting discipline is responsible for providing accounting information to outside stakeholders?

Question

Quizplus · Accepted Answer

Financial accounting is responsible for providing accounting information to outside stakeholders, such as lenders, investors, and government agencies. Management accounting is focused on providing information for internal decision-making, while tax accounting is focused on complying with tax laws and regulations. Certified bookkeeping is not a recognized accounting discipline.

Kelley's Kloset, LLC, Has Applied for a Business Loan