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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]
Accounting; Balance sheet analysis ... A business plan is a formal written document ... Preparing a business plan draws on a wide range of knowledge from many ...
The philosophy of accounting is the conceptual framework for the professional preparation and auditing of financial statements and accounts.The issues which arise include the difficulty of establishing a true and fair value of an enterprise and its assets; the moral basis of disclosure and discretion; the standards and laws required to satisfy the political needs of investors, employees and ...
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] Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and ...
The following outline is provided as an overview of and topical guide to accounting: . Accounting – measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.
Accounting, which has been called the "language of business", [20] measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. [21] Practitioners of accounting are known as accountants. The terms "accounting" and "financial ...
Accounting research is carried out both by academic researchers and by practicing accountants.Academic accounting research addresses all areas of the accounting profession, and examines issues using the scientific method; it uses evidence from a wide variety of sources, including financial information, experiments, computer simulations, interviews, surveys, historical records, and ethnography.
Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. [1] In the public sector, 30% of 165 governments surveyed used accrual accounting, rather than cash accounting, in 2020. [2]
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