Define Accounting
Posted by Ripon Abu Hasnat on Thursday, May 29, 2014 | 0 comments
Accounting is concerned with collecting, analyzing and
communicating financial information. The purpose is to help people who use this
information to make more informed decisions. If the financial information that
is communicated is not capable of improving the quality of decisions made,
there would be no point in producing it. Sometimes the impression is given that
the purpose of accounting is simply to prepare financial reports on a regular
basis. While it is true that accountants undertake this kind of work, it does
not represent an end in itself. The ultimate purpose of the accountant’s work
is to give people better financial information on which to base their
decisions.
This
decision-making perspective of accounting fits in with the theme of this book
and shapes the way in which we deal with each topic
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