Accountancy concerned with the principles and method used for accounting to keep systematic
record of information. It helps us to summarize and communicate the information to interested parties.
Here interested party refers to the users (external or internal). External users are owners, investors,
creditors, employees or government who want information which help them to estimate their rate of
return from company or business.
Internal users are those people who are related to management and operating department of business
enterprise. They want to information about the efficiency and smoothness of business.