1. Accounting information can be considered the heart of business. Decision making is never without accurate and reliable information. The users of accounting information can be internal and external. They use accounting information with different goals. Explain how basic knowledge of accounting can benefits the managers, executives, or the entrepreneur. 1.1. In your own words, discuss the significance of key financial statements and the information they present. (10 points) 1.2. Review who the users of accounting information (both internal and external) are and provide examples of how they could benefit from financial statements. In particular, explain the importance of accounting information to a manager / business owner. (15 points)