Accounting and its functions, Accounting Basics

Accounting is frequently termed as the language of business. The fundamental function of any language is to function like a means of communication. In this circumstance, the reason of ac- counting is to communicate or report the effects of business operations and its different aspects. However, accounting has been explained in several ways. As per to one commonly admired definition. "Accounting is the skill of recording, summarizing and classifying in a important manner and in terms of transactions, money and events that are; inside part at least, of financial nature and interpreting the outcome thereof'. The other definition that is less restrictive interprets accounting like "The process of considering, measuring and communicating economic information to allow informed judgments and decisions through the users of information"

Posted Date: 4/2/2013 6:46:49 AM | Location : United States

Related Discussions:- Accounting and its functions, Assignment Help, Ask Question on Accounting and its functions, Get Answer, Expert's Help, Accounting and its functions Discussions

Write discussion on Accounting and its functions
Your posts are moderated
Related Questions
What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps?          Ans

Question 1: (a) What do you understand by term offshore bank? (b) What are the benefits of providing and receiving banking services from an offshore bank? (c) Explain

Can you give me a more simple definition of Mutual Confidence and give me an example of a situation of it

how do you find simple interest

#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la

What is the Fair labor standard act Fair labor standard act (Wages and Hours Law) establishes standards for minimum wages, child labor, overtime pay, required payroll record

A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar

Of the two, who is the ____ , Marie Antoinette or Anne Boleyn? (Points : 2) more famous most famous famouser Question 3. 3. The traffic where we live is _____