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Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
The assumption is that customers in each department have a common set of problems and needs that can best be met by specialists. The sales activities in an office supply firm can be broken down into three departments that serve retail, wholesale and government accounts. Geographic departmentalization - Grouping activities on the basis of ...
Similar to an accounting manager, they are usually subordinate to the manager, or report directly to the controller or CFO. In addition to their supervisory role, they will be responsible for monitoring and approving the financial processes and reporting of their department. [3] [4]
The term "organizational structure" refers to how the people in an organization are grouped and to whom they report. One traditional way of organizing people is by function. Some common functions within an organization include production, marketing, human resources, and accounting.
A function of management accounting in such organizations is to work closely with the IT department to provide IT cost transparency. [ 15 ] Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. [ 16 ]
The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, Indiana.The DFAS was established in 1991 under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer to strengthen and reduce costs of financial management and operations within the DOD.
Executive management accomplishes the day-to-day details, including instructions for the preparation of department budgets, procedures, and schedules; appointment of middle-level executives such as department managers; coordination of departments; media and governmental relations; and shareholder communication.
Some reasons cloud accounting software is preferred by users is there is no need to worry about maintenance or hardware system upgrades, it can reduce overall costs, and that a user can gain access from multiple locations. One of the primary reasons cloud accounting software is not being used is the threat of the security of the data. [7]