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Accounting - Introduction to Stakeholders

Author: Jim Riley  Last updated: Sunday 23 September, 2012

Introduction to stakeholders

Let’s start with a definition of stakeholders, which are:

Groups / individuals that are affected by and/or have an interest in the operations and objectives of the business

Most businesses have a variety of stakeholder groups which can be broadly categorised as follows:

Main stakeholder groups

Stakeholder groups vary both in terms of their interest in the business activities and also their power to influence business decisions.  Here is a useful summary:

Stakeholder

Main Interests

Power and influence

Shareholders

Profit growth, Share price growth, dividends

Election of directors

Banks & other Lenders

Interest and principal to be repaid, maintain credit rating

Can enforce loan covenants
Can withdraw banking facilities

Directors and managers

Salary ,share options, job satisfaction, status

Make decisions, have detailed information

Employees

Salaries & wages, job security, job satisfaction & motivation

Staff turnover, industrial action, service quality

Suppliers

Long term contracts, prompt payment, growth of purchasing

Pricing, quality, product availability

Customers

Reliable quality, value for money, product availability, customer service

Revenue / repeat business
Word of mouth recommendation

Community

Environment, local jobs, local impact

Indirect via local planning and opinion leaders

Government

Operate legally, tax receipts, jobs

Regulation, subsidies, taxation, planning


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Related study notes

INTRODUCTION TO ACCOUNTS
Introduction to Accounting
Users of Accounts
Accounting Concepts and Conventions
Stakeholder Theory
Characteristics of Accounting Information
Alternatives to Profit Maximisation
Maximising the Value of a Business
Non-financial Objectives of a Business
Comparison of Financial and Management Accounting

BUDGETING
Financial objectives - intro
Financial objectives - key measures
Introduction to Business Planning
Introduction to Budgets
Purpose and Role of Budgets
Incremental Budgeting
Zero-based Budgeting
Variance analysis
Budgeting limitations

COMPANY FORMATION
Introduction to Business Organisation
Forming a Company
Advantages of Incorporation

FINANCIAL MANAGEMENT
Introduction to Financial Management
Introduction to Working Capital
Working Capital Needs of Different Businesses
Working Capital Cycle

SOURCES OF FINANCE
Managing Business Cash Flows - An Introduction
Introduction to Raising Business Finance
Sources of Finance for SMEs
Overdraft Financing
Business Angels
Introduction to Venture Capital
Sources of Equity Finance
Rights Issues
New Share Issues & Flotations
Intoduction to Leasing
Leasing - Advantages & Disadvantages

FINANCIAL STATEMENTS
Introduction to Financial Accounting
Income Statement
Profit quality
Balance Sheet
Current assets
Current liabilities

RATIO ANALYSIS
Introduction to Ratio Analysis
Interpreting Financial Information
Accounts & financial performance
ROCE
Asset turnover
Stock turnover
Debtor days
Creditor days
Liquidity ratios
Gearing ratio
Shareholder ratios
Limitations of ratios

ACCOUNTING ISSUES
Accounting for Fixed Assets - Introduction
Depreciation
Depreciation - Straightline Method
Depreciation - Reducing Balance Method

STAKEHOLDERS
Stakeholders - intro
Stakeholder power
Stakeholder conflicts

 


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