Difference between revisions of "Accounting"
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| − | [[Accounting]] is | + | [[Accounting]] is a system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and other relevant stakeholders including the government. |
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| + | ''Accounting'' can also be defined as the process of sorting and entering financial data into a [[bookkeeping system]], as well as the finalizing of end of year accounts, producing financial statements and calculating tax payable often by a [[Certified Public Accountant]]. | ||
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==Definitions== | ==Definitions== | ||
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*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
| − | ==Related | + | ==Related lectures== |
*[[Bookkeeping Quarter]]. | *[[Bookkeeping Quarter]]. | ||
[[Category: Septem Artes Administrativi]][[Category: Articles]] | [[Category: Septem Artes Administrativi]][[Category: Articles]] | ||
Latest revision as of 19:24, 4 January 2019
Accounting is a system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and other relevant stakeholders including the government.
Accounting can also be defined as the process of sorting and entering financial data into a bookkeeping system, as well as the finalizing of end of year accounts, producing financial statements and calculating tax payable often by a Certified Public Accountant.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Accounting. A system that measures the business' activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and others.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
