Why do the internal and external user need accounting information?

Internal users, such as management and employees, need accounting information to make informed decisions regarding budgeting, performance evaluation, and strategic planning. External users, including investors, creditors, and regulatory agencies, require this information to assess the financial health and stability of the organization, make investment decisions, and ensure compliance with laws and regulations. Overall, accounting information serves as a critical tool for both internal and external stakeholders to understand and evaluate the financial position and performance of a business.