Importance of Accounting Information for Watley’s: User Groups and Stakeholders

1. Watley’s is a small furniture manufacturing company based in Birmingham, England.
The company specialises in making luxury bespoke wooden furniture designed to appeal to high-end customers with discerning tastes. The company has a team of highly skilled craftspeople who use traditional skills to produce goods of the highest quality.

 

The company premises in Birmingham comprises a retail outlet, a factory, a stores (inbound / outbound), and an office. The company has 52 employees; 30 of these are skilled carpenters, 12 are unskilled manual workers (wood cutters, storespeople), and the remainder are office / shop staff and managers.
Finance and accounting information is required by many different groups of people and for a variety of reasons. The various users will require different types of information to varying levels of detail.

 

Consider our case study company, Watley’s, and identify what you consider to be
its three most important user groups of accounting information from the list below:
Customers Competitors Government Community Representatives Analysts Suppliers Lenders Managers Owners
Employees
You should justify your selection and explain what kind of information they need and why.
How, if at all, do you think your answer would differ for different types of organisation, e.g. those operating in a non-profit making capacity or in the public sector?
How does this vary for your own organisation? 250words

 

2. Do you believe any other stakeholder holds a higher importance for the use of the accounting information?