(i) Regulatory agencies
(ii) Tax authorities
(iii) Customers
(iv) Labour unions
(v) Trade associations.

Accounting is not an end in itself. However, the ultimate product of accounting may be the balance sheet of any enterprise as it depicts the financial position of the business for which accounting is done.

Capital: Capital may be referred to as the amount (in terms of money or assets having money value) which is invested by the owner(s) in the business. A proprietor or partner can claim his share of capital from the firm, if the business is closed or a partner retires. For the business, capital is a liability towards the owner. It is also known as owner's equity, proprietorship's funds or net worth. Owner's equity means owner's claim against the assets of the firm. Drawing and losses reduce and profits increase the capital.

Stock (Inventory) : The term 'stock' refers to the goods lying with the firm on a particular date. It may consist of raw materials, semi-finished goods and finished goods. Inventories are tangible property
(i) held for sale in the ordinary course of business,
(ii) in the process of production for such sale, or
(iii) to be consumed in the production of goods or service for sale. The stock is valued on the basis of "cost or market price, whichever is less" principle. Stock in the beginning of the accounting year is called opening stock whereas, stock at the end of the accounting year is called closing stock.

(i) Bills Receivable : A bill of exchange, when accepted by a debtor is called a bills receivable. A bill of exchange is an order instrument, written by a creditor and accepted by a debtor to pay a certain amount on demand or after a certain period.
(ii) Bills Payable: When credit purchases are made, the settlement/payment to the creditors are sometimes done through a document, known as "Bills Payable." These bills are accepted by the business and will be honoured by paying to the suppliers, on the date mentioned on the bill.
(iii) Income : Income is different from 'revenue'. The difference between revenue and expense (if revenue is more than expense) is called income. For example, the goods costing Rs 10,000 are sold for Rs 12,000; the cost of goods, i.e., Rs 10,000 is expense. The sale of goods, i.e., Rs 12,000 is the revenue and the difference between revenue and expense, i.e., Rs 2,000 is the income.

On the basis of repayment period, liabilities are divided into two categories:
(i) Non-current liabilities : These liabilities are payable after a long-term, normally more than one year. For example, long-term loans, mortgage loans, debentures, etc. These are also known as noncurrent liabilities.
(ii) Current liabilities : These are obligations to be met in near future, normally less than one year. For example, creditors for goods, outstanding expenses, bank overdraft, bills payable, short-terms loans, etc.

Owners need information about performance of the business and its financial position. It helps them to decide whether to continue or shut down the business. In case of companies, shareholders are the owners, they need information to assess whether to buy, hold or sell their investment. They are also interested to know the ability of the business to survive, prosper and to pay dividend.

Following are the groups of people interested in accounting information:
(i) Owners: Owners are the persons who invest capital in the business and share the risks. Owners need accounting information to know the profitability and financial strength of the business to make proper decisions.
(ii) Management : Management is answerable to the owners. The responsibility of the management is to operate the business efficiently. Management needs accounting information for decision-making.
(iii) Employees: Employees need accounting information to claim increase in wages, bonus and other benefits.
(iv) Investors : Investors are the persons who want to invest their money in the business. They need accounting information to know the safety of their investments and future prospects of the business.
(v) Creditors : Creditors are the persons who have advanced some money or goods to the business. They need accounting information to know the capacity of the business to repay their claims in time.
(vi) Government : Government needs accounting information to collect the various taxes like sales tax, income tax, excise duty, etc.
(vii) Research scholars : Research scholars need accounting information to study the financial operations of a particular firm or company for their research.
(viii) Consumers : Consumers need accounting information to create public opinion against those business firms who exploit the consumers.
(ix) Banks and Lenders : If banks have lent money to any firm they would like to know whether the money given is safe-guarded and to ensure timely loan repayments.

Following are the parties interested in the analysis of financial statements due to the reasons given below:
(i) Owners or Investors:
(a) Profitability
(b) Financial position
(c) Future prospects or growth potential
(ii) Management:
(a) Short-term and long-term solvency
(b) Profitability in relation to turnover and investment
(c) Liquidity of the business firm
(iii) Employees:
(a) Profitability
(b) Cash position
(iv) Suppliers and other Creditors:
(a) Financial position
(b) Profitability
(v) Lenders:
(a) Financial Position
(b) Profitability
(vi) Government and their agencies:
(a) Profitability
(b) Growth
(c) Financial position
(d) Estimating National Income
(vii) Researchers:
(a) Profitability
(b) Growth
(c) Financial Position
(d) Future prospects

Cost Accounting : Cost accounting is the branch of accounting which deals with recording cost with the objective of ascertaining, reducing and controlling cost. It includes the accounting procedures relating to recording of all income and expenditure and preparing periodical statement of costs and reports. The information provided by cost accounting is helpful in determining the prices of products and services, exercising control over the cost being incurred through estimating standard cost in advance and comparing with actual costs.

Financial accounting is a branch of accounting which involves recording of revenues, expenses, assets and liabilities of a business.
The main function of financial accounting is the preparation of financial reports which provide summary of a firm's financial condition. Income Statement or Profit & Loss Account and Balance Sheet are the end product of financial accounting. These financial statements provide vital information to various interested groups.