Accounting
• What is it?
It is the science of keeping financial accounts which includes a set of principles On financial analysis, and record it in a systematic manner, which includes assembling the facts and classified it in financial reports and statements.
• Language of business for inside or outside the organization, specifically important for decision makers.
• Accounting is provided in a timely fashion (according to the accounting cycle)
Provides financial information to:
Managers, Owners, or Investors (Individuals)
Small Business or Large Corporations
Governmental agencies,
Others inside and outside the organization