Accounting is the measurement, translation, or provision of assurance about information that will assist managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and government agencies.
Accounting aims to prepare accurate financial statements that can be used by managers, policy makers, and other interested parties, such as shareholders, creditors, or owners. Daily recording involved in this process is known as bookkeeping.
A simple definition of accounting is the process of recording and classifying the financial activities of a business.
Why necessary records / documentation? Transactions in a company and it's certainly a lot of diverse types, if there is no record of what happened ... must be a mess Because something is forgotten, for example, we're not ever record our debt to supllier or note alone but less neat download documentation, arriving suddenly came the bill from the supplier if there is no definite record we are confused as to whether the bill had been paid or not
Classification is a grouping of transactions we have noted, for example, sales, purchasing, accounts payable, accounts receivable, etc.. This activity is done to simplify the financial reporting process.
Accounting aims to prepare accurate financial statements that can be used by managers, policy makers, and other interested parties, such as shareholders, creditors, or owners. Daily recording involved in this process is known as bookkeeping.
A simple definition of accounting is the process of recording and classifying the financial activities of a business.
Why necessary records / documentation? Transactions in a company and it's certainly a lot of diverse types, if there is no record of what happened ... must be a mess Because something is forgotten, for example, we're not ever record our debt to supllier or note alone but less neat download documentation, arriving suddenly came the bill from the supplier if there is no definite record we are confused as to whether the bill had been paid or not
Classification is a grouping of transactions we have noted, for example, sales, purchasing, accounts payable, accounts receivable, etc.. This activity is done to simplify the financial reporting process.
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