Accounting is the systematic recording, reporting, and analysis of financial transactions of a business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accou...
Accounting is having a pivotal function in any business. Whether a business is small or large, there is a need for a person who can handle accounts of the company. Here the role of chartered accountant comes into play. The work of an accountant is creating the financial records and checking...
To understand and use accounting information, we need to understand: Paragraph 1 会计是识别,计量和传递经济信息的过程,目的是使信息的使用者能够在获得充分信息的基础上,做出判断及决策。这些信息主要是财务性的,并以货币形式表述。 communicate: convey 他负责传送新资料。 He is in charge of communicating ...
Definition of Accounting Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and profession dedicated to carrying out those tasks. Examples of Financial...
Managerial accounting is the process of identifying, analyzing, interpreting and communicating information to managers to help managers make decisions within a company and to help achieve business goals.
1. What is accounting?(会计是什么?) Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization. It provides information about the financial position and performance of a company. 2. What are the basic accounting principles?(基本...
Financial Accounting: Cost accounting is focused on the cost of doing business, while financial accounting focuses on the wider financial landscape. It covers assets, transactions, and expenses. Its importance lies in the production of financial statements that serve as the basis for forecasts as wel...
Management must find out its positive and negative points.Accounting helps in doing so by means of comparison. It is common practice to compare profits, cash, sales, assets, etc with each other to analyze the performance of the business....
Manyinternal controlsare used to manage and ensure efficient business cash flows. Internal controls are various accounting and auditing mechanisms that companies use to ensure that their financial reporting is compliant with regulations. The Sarbanes-Oxley Act of 2002 holds managers legally responsible for...
If managers don’t have accounting knowledge, there are several courses and books to help them know what is accounting for managers.