What Is Accounting

What is write up? accounting is an info and communication dodging that provides pecuniary selective information to interested parties for fiscal decision make. history involves: Measuring, recording, summarizing and inform monetary information Keeping records of day to day financial events and proceedings Producing financial statements and reports showing financial assign and performance Analysing and interpreting financial information, making recommendations and problem answer Providing users with information to make financial judgements and decisions financial and heed Accounting Tradition bothy, method of accounting is divided into 2 palm financial accounting and care accounting.

Financial Accounting is: Recording, classifying and summarising every(prenominal) day transactions (Bookkeeping) Preparation of general usage financial reports and statements Management Accounting is: Preparation of information required for efficacious and efficient management of business resources Providing specific purpose information (financial and non financial) to decision makers |Financial Accounting | |Management Accounting | | remote users shareholders, creditors,|Main users | familiar users managers, heads of | |government agencies | |departments, supervisors | |Classified Financia l Statements |Types of Reports ! | midland reports as take | |quarterly, 6 monthly, annually | | | |General purpose information for all users|Purpose of Reports |Specific purpose information for a | | |...If you requirement to get a full essay, coiffure it on our website: OrderEssay.net

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